Singapore Pushes for Master E-Payment System

The Singapore government hopes to unify e-payment solutions under one or two master systems for food sellers. Previously, the country had fostered competition among the systems to promote innovation. Three government agencies are set to appoint one or two «master acquirers» in the next few months, in a bid to unify e-payment solutions for hawker stalls, food centres and industrial canteens. Under a call-for-collaboration, which ended on May 14, the agencies asked e-payment providers to submit proposals to become master acquirer. A call-for-collaboration is like a government tender, but without technical specifications. «The call-for-collaboration aims to drive wider adoption of e-payment and enable F&B operators and consumers to benefit from swift, convenient and secure payments during daily transactions,» Enterprise Singapore said on its website.   The U-Turn  The recent move by government agencies is a u-turn. Previously, the government favored more competition in e-payments. Having one or two dominant payment

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