Banking services disruption heightens need for multiple payment methods, say retailers

AFTER the weekend’s major disruption of DBS and Citi banking services, it was business as usual for small retailers on Monday (Oct 16), though some say the incident has reinforced the need for multiple payment methods.

In an informal poll by tenant group Singapore Tenants United for Fairness (SGTuff) on Monday, about one-third of the 76 respondents said they were still affected by the outage “to a small extent”.

This includes not having received customer payments that were made via PayNow to DBS accounts over the weekend, SGTuff chairman Terence Yow told The Business Times (BT).