- NETS’ “Go Cashless” promotion from April to May saw 20x growth in e-payment transactions with strong support from consumers and merchants.
- New promotion runs every Wednesday in July and August and is extended to 36 coffee shops for the first time, as well as to 30 hawker centres and 30 canteens
Singapore, 3 July 2018 — In response to keen interest from consumers, leading payment services group NETS will be extending the “Go Cashless” promotion which rewards diners with discounts when they make NETS QR code payments at participating hawker stalls. NETS static QR will be incorporated under the SGQR code specifications when the latter is released later this year.
From 4 July to 29 August, diners will receive a $0.50 discount off every NETS QR code transaction every Wednesday at any of the participating stalls, subject to a minimum spending of $2 per transaction.
The first round of the “Go Cashless” promotion was held from April to May and included 22 participating hawker centres and canteens. The second round of the promotion from July to August will feature more hawker centres and canteens, with coffee shops joining the promotion for the first time.
A total of 30 hawker centres – about a quarter of all hawker centres in Singapore – will be participating in the promotion, in addition to 2 JTC canteens and 28 tertiary campus canteens. To offer diners even more choices, NETS has also roped in 36 coffee shops to take part in the “Go Cashless” promotion for the first time.
In total, the promotion will see more than 1,000 hawker stalls offering discounts to diners who choose to use make NETS QR code payment.
Mr Ang Sok Hong, Head of Sales, NETS, shared that more diners are now opting for QR code payment. In fact, the overwhelming response to the first “Go Cashless” promotion was what prompted NETS to bring back the campaign.
“We witnessed a 2000% increase in the number of NETS QR code transactions at the participating hawker centres over the two-month campaign period. Even after the campaign ended, the number of NETS QR code transactions still saw an average increase of close to 500% compared to before the campaign. This shows that more diners are switching from cash to QR code payments, and is proof that NETS’ efforts in driving cashless payments are paying off,” said Mr Ang.
He added that success of the promotion was also due to more merchants taking to QR code payments: “We are grateful for the strong support from stallholders and canteen operators – many of whom have been promoting the ‘Go Cashless’ message by educating their customers and encouraging fellow hawkers to adopt QR code payments.”
The drive to promote QR code payments is in support of Singapore’s Smart Nation vision and is part of a concerted effort to convert about S$1 billion cash-based transactions taking place across 6,000 hawker and food stalls in Singapore every year into e-payments.
NETS launched QR code payments back in September 2017 with Tanjong Pagar Market & Food Centre (TPFC) as the first hawker centre in Singapore to accept QR code payments. To date, NETS QR code payments are offered at more than 3,000 hawker stalls and canteens across the island.
The NETS QR code is able to accept payments from customers using NETSPay, DBS’ PayLah, OCBC’s Pay Anyone or UOB’s Mighty mobile apps. There are currently more than 60,000 NETS QR code acceptance points across the island.
To encourage more hawkers to install NETS terminals, NETS has waived all terminal and transaction fees for hawkers for three years.
As part of the new “Go Cashless” promotion, NETS is also rewarding hawkers by offering participating stallholders a chance to win $100 every week when they accept NETS QR code payments during the promotional period.
More details on the promotion can be found at www.nets.com.sg/gocashless.