UnionPay QR payment service now available at hawker centres in Singapore

UnionPay QR payment service now available at hawker centres in Singapore

By: 
Michelle Zhu
07/06/18, 03:02 pm

SINGAPORE (June 7): UnionPay International (UPI) bank members will soon be able to make Quick Response (QR) code payments at selected hawker centres, a solution developed by homegrown payments technology Liquid Group.

In a press release issued on Thursday, Liquid Group says it has partnered with UPI to enable consumers using UPI banks’ mobile QR payment apps to pay at the group’s network of merchants.

The partnership will see both parties pilot the service at hawker centres currently already on the Liquid Pay app, while the full rollout to the group’s other merchants is expected to complete by 3Q18.

This comes as the Liquid Pay QR code is currently being consolidated into Singapore’s unified SG QR standard, which is to be adopted and deployed by all payment service providers in the city state by 2018.

Liquid Pay is one of the seven consortium members alongside firms such as Mastercard and EZ-Link which have teamed up to enable interoperable QR payments in Singapore for both consumers and merchants.

“Interoperability and universal acceptance are critical components towards enabling and progressing Singapore to truly become a cashless society. This partnership enables over 60 million international and local UnionPay QR app users to pay on our network of merchants,” says Jeremy Tan, CEO of Liquid Group.

2019 GDP growth to ease to 'slightly above midpoint' of 1.3-3.5% forecast: MAS

SINGAPORE (Apr 26): MAS expects GDP growth to come in slightly above the mid-point of 1.3-3.5% forecast range in 2019, as growth momentum of the global economy has moderated at the turn of the year amid sluggish trade. This was according to the Guide to the Macroeconomic Review April 2019, released by the Monetary Authority of Singapore’s (MAS) Economic Policy Group on Friday morning. On the back of easing GDP growth, MAS has decided to maintain the current rate of appreciation of the SGD NEER policy band. This policy stance is consistent with a modest and gradual appreciation path of ....
Read More >>

CapitaLand Mall Trust kept at 'hold' by OCBC and Maybank on higher mall supply, soft retail sector

SINGAPORE (Apr 26): OCBC Investment Research says CapitaLand Mall Trust’s (CMT) 1Q19 results met its expectations. Gross revenue rose 10.0% y-o-y to $192.7 million while NPI jumped 11.5% to $140.1 million, forming 25.1% of its FY19 forecast. See: CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income OCBC says Funan has already achieved high pre-commitment levels of 90%, and is on track to open in the middle of 2019 and will thus contribute to CMT’s earnings progressively from 2H19. However, the near-term outlook remains cautious given the higher supply, ....
Read More >>

Singapore's GLP plans US$3 billion IPO for its US warehouses

(Apr 26): Singapore-based GLP is planning an initial public offering (IPO) for its US operations that could raise about US$3 billion ($4.09 billion). GLP may seek to value the operations at more than US$20 billion, and the firm is said to have confidentially filed with securities regulators for the planned offering. Much of GLP’s US business stems from a 2014 deal to acquire IndCor Properties from Blackstone Group for US$8.1 billion. The offering could help GLP recoup funds after it was taken private by a management-backed consortium from the Singapore stock exchange last year. GLP ....
Read More >>