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Singapore can use less cash and be cheque-free by 2025: Ong Ye Kung

E-payments via Fast, card transactions growing by over S$10 billion every year while ATM withdrawals falling S$300m each year

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"We don't need to be literally a cashless society - some people will always find cash useful - but we certainly can transact with a lot less cash and we won't need to visit the ATM so often." - Ong Ye Kung, Minister for Education and Monetary Authority of Singapore board member.

Singapore

E-PAYMENTS are catching on and the government hopes to further reduce the use of cash and make Singapore cheque-free by 2025.

It is also beefing up consumer protection against e-payment risks, said Minister for Education Ong Ye Kung at the 45th annual dinner of the...

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