E-payment war morphing from single to paired fighters
Competition is now between teams of unicorn and incumbent; Go-Jek is in bed with DBS, Grab with UOB and Razer with NETS
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THE e-payment fight has taken on a new complexion. Facing each other on the frontlines are no longer single warriors - be it a Super App, fintech startup or financial incumbent - but newly-formed teams of unicorn and incumbent.
On Monday, three such partnerships were unveiled at the Singapore FinTech Festival - Go-Jek and DBS Bank; Grab and UOB Bank; and Razer and NETS. These dramatic tie-ups take the tussle for a unified e-payments system for Singapore and the region to a new level, industry observers told The Business Times.
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