Earlier this year, PM Lee Hsien Loong said that Singapore has not gone as far as it could in terms of cashless payments in hawker centres, shops, and between people as compared to other countries.
With the launch of PayNow by the Association of Banks in Singapore in conjunction with 7 banks yesterday, we are one step closer to becoming a cashless society. This service, which builds on the existing Fast And Secure Transfer (FAST) infrastructure, will start on 10 July.
You can easily make peer-to-peer transactions of up to $50,000 using just your mobile number or NRIC/FIN. It’s fast, secure and 24/7
Mileage Singapore and its advertising agency partner, Mandate is helping ABS in a 6-month marketing communications campaign to raise awareness and to educate the public about PayNow. We have also received extensive media coverage on PayNow after the launch event.