Singapore to roll out unified SG QR for electronic payments by 2018

SINGAPORE (Nov 21): Payment service providers in Singapore by next year will adopt and deploy a common Singapore Quick Response Code (SG QR) that can accept electronic payments by both domestic and international payment schemes, e-wallets, and banks.

The Monetary Authority of Singapore (MAS) on Monday announced that the Payments Council has endorsed the first-of-its-kind SG QR, which includes protocols customised for Singapore.

SG QR builds on the QR specifications of EMVCo, a consortium of international payment schemes including American Express, Discover, JCB, Mastercard, UnionPay International, and Visa.

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