Singapore looks into common QR code for cashless payments

MAS says industry taskforce may, by year's end, be ready to implement universally-accepted code for fast, easy payments with smartphones

Angela Tan

Published Tue, Aug 29, 2017 · 09:50 PM

Monetary Authority of Singapore

Singapore

BY the end of this year, Singapore may have a common quick-response (QR) code through which users can make payments by just scanning those squiggly squares with their smartphones.

A successor to the vertical bar code, a common QR code promises to bring Singapore closer to its dream of becoming a Smart Nation - one where cashless payments are embraced by both young and old.

On Tuesday, the Monetary Authority of Singapore (MAS) said that an industry taskforce it co-leads with the Info-communications Media Development Authority (IMDA) will look into developing the common QR code for Sing…