17-Sep-18, Finextra

Singapore has launched what it claims to be the world's first unified payments QR code, which will be adopted by 27 payment schemes on the island.

Singapore rolls out unified QR code payments (c) Finextra

Image: Finextra

The Singapore Quick Response Code (SGQR) will be rolled out by Mar-19 in an effort to make QR-code-based mobile payments simpler to use for both consumers and merchants.

PayNow, Nets, GrabPay, Liquid Pay and Singtel Dash are among the payment schemes onboard for the project, which will see merchants replace their existing QR codes replaced with SGQR labels. Shoppers can check quickly if their preferred QR option is on the label and then pick it, scan the code and make the payment.

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