New ways to pay

THIS WEEK'S TOPIC: What should Singapore do to promote cashless transactions? How far should it go to encourage electronic payments?

Axel Pannes Managing Director BMW Group Asia

I BELIEVE cashless, and more importantly cardless, transactions are the way forward for Singapore. Given that Singaporeans are extremely tech savvy and smartphone penetration is more than 100 per cent, there is no reason this can't become a reality.