THE Monetary Authority of Singapore (MAS) will be trialling a new solution that is expected to improve the interoperability of the current Singapore Quick Response Code Scheme (SGQR), it said on Tuesday (Oct 31).

Through a proof of concept (POC) – conducted from Nov 1 to Nov 30 – MAS will explore whether it is feasible for merchants in Singapore to accept QR payments from a variety of payment schemes through a single financial institution.

SGQR, introduced in 2018, combines multiple payment QR codes into a single SGQR label. It has been widely adopted by merchants, but MAS noted that there’s scope to enhance the payments scheme.