Supermarkets embrace QR code payment modes

In yet another major breakthrough for QR code payment systems, supermarkets in Singapore have begun to embrace NETS QR. This is great news for the average consumer because going down to your neighbourhood grocer to pick up groceries can now be done without having to bring any cash or credit cards. With this newest development, a cashless society is truly achievable.

Not all supermarkets will onboard Nets QR code at the same time. The first supermarket chain that intends to roll it out in all its stores is Cold Storage, which has plans to implement the new system in every store by the end of February 2018. Giant already offers Nets QR payment is planning to roll the system out in all stores by the middle of this year, while Sheng Siong will introduce it by the end of 2018.

In explaining how the Nets QR code will be implemented, Dairy Farm (which runs 7-Eleven, Cold Storage and Giant) IT information technology director Eu Kwang Chain said, “[Net QR] is enabled through the unified Point-of-Sale (POS) terminals that are already installed in all Code Storage supermarkets. We will enable Nets QR as the first mobile QR payment, with more mobile payment options being explored currently”. Furthermore, unlike credit card payments, transaction times are “nearly instant”. Apart from the Dairy Farm supermarket chains, Sheng Siong is also expected to utilise QR code payment modes. These cashless payment modes include not only Nets QR but also Alipay.

As we continue to make significant inroads towards transforming Singapore into a cashless society, it is important to note that the path to ubiquity would not be without blips. Just as how the NETS outage caused disruption to payment services earlier this month, it is expected that the rolling out of a new platform would entail occasional inconveniences to the consumer. However, in time to come, the long term benefits would undoubtedly outweigh the short-term pains. Merchants will experience greater cost-savings and efficiency while consumers gain greater convenience.

About FOMO Pay

FOMO Pay provides one-stop QRCode Payment Solution which enables merchants to accept a full suite of new payment methods including WeChat Pay, NETSPay, mVISA, Grab Pay, Baidu Wallet, Best Pay, etc. Launched in 2016 with more than 1000 merchants acquired within a year, FOMO Pay is trusted by major companies including SPH, Marina Bay Sands, StarHub, JUMBO, Club 21, CHANEL, etc. With FOMO Pay, merchants can unlock true business potential by giving customers the payment options they prefer and adopt cashless payment easily. FOMO Pay is also sitting in MAS SGQR Taskforce to promote QR code payment and make Singapore a cashless society.