Google's smart decision on branding GooglePay

Google consolidates its payment products, Android Pay and Google Wallet, into a single new brand - Google Pay. It's a smart decision when companies decide to simplify how it presents their solutions to consumers, in an already crowded and fragmented market https://techcrunch.com/2018/01/08/google-pay/?ncid=rss

Challenges SMEs in Singapore face in going cashless

With $2 billion as costs incurred by Singapore to manage its cash and cheque-based payments, cashless is the way to go. However interoperability and merchant fees are among key areas that need to be addressed for Singapore's cashless drive.

Even DBS' PayLah though free, won't work for merchants in its current form as it is primarily a P2P payment mode where transactions go through personal account rather than corporate account.

Check this article on the challenges SMEs in Singapore face in going cashless: http://www.straitstimes.com/business/banking/challenges-smes-face-in-going-cashless

Singapore keen to catch up with China on digital payments

Just last week, I had an interesting conversation over dinner with a couple of my Lean In Singapore Women In Tech team members on the developments made in payments in the respective countries we hail from (one is from Australia, another from China, I'm from India).

We spoke of the massive leaps made in developing markets such as China, India and parts of Africa that have left developed countries far behind in how payments get done. My friend from China spoke about the exact thing that Singapore's PM Lee Hsien Loong stated in his National Day Rally speech on Sunday - that Chinese tourists would consider Singapore backward for still doing things the old way!

China has seen an astounding spread with cashless payments. To the extent that China has now reached a stage where the government has to remind merchants and payment providers that cash is still a valid payment option! 

#mobilepayment #cashlesspayment #China #India #Singapore #payments #Alipay