MAS tests upgraded unified QR code system
New code could allow merchants to accept different QR payment methods more easily
The Monetary Authority of Singapore (MAS) is testing an upgraded unified payment code system that could make merchants’ and customers’ lives easier.
In 2018, the MAS introduced the Singapore Quick Response Code (SGQR), which combines multiple QR codes from multiple payment services into a single label. Merchants only need to display a standardised label at their stores to accept payments from different payment schemes, such as Alipay, GrabPay, Nets, ShopeePay and UnionPay.
But the MAS said
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