The ongoing pandemic caused much chaos and upheaval across the world – in personal lives, businesses and governments. Many organisations, especially those proving necessary goods and services, needed to rapidly transform and adapt to the challenges posed by COVID-19. In times like these, vision and agility of top leadership are what is needed the most.
To get a deeper insight into the challenges and opportunities of rapid digital transformation in an organisation attending to the everyday needs of an average Singaporean, OpenGov Asia spoke with Ramesh Munamarty, CIO Advisor at TBM Partners and former Group CIO (Digital and Technology) at NTUC Enterprises Singapore and International SOS.
Right off the bat, Ramesh credited the agility of the business, innovation culture and business processes enabled by the right technology for ensuring the survival and success of organisations in these unprecedented times. Beyond doubt, survival has been to a large extent because of an agile business mindset coupled with cutting-edge technology and the highly innovative solutions created from them.
On his organisation’s journey of transforming as necessitated by the pandemic and the tools and technology that came to rescue, Ramesh shared, like numerous other organisations, his prior organisation, too, had begun its digital transformation journey to an extent before the pandemic.
In any organisation working together in an obvious must. The pandemic could have put an end to this, and, indeed, it was the case for several organisations. In their favour, one powerful tool that had been in place, which significantly helped employees work together efficiently, in his opinion, was an effective collaboration suite. Facilitating simultaneous editing and doing away with the need for sharing multiple copies of the same document as attachments, these platforms immensely assisted employees to work collaboratively on documents and presentations from remote locations.
Another major factor to manage for efficient remote work was ensuring a safe and secure working environment for all employees. Without a plethora of tech-driven tools and solutions, it would have been nigh impossible for organisations to facilitate remote work or even to survive for long. Various digital strategies, platforms and applications allowed for safe remote access, data sharing and confidential communication between staff working from geographically diverse locations, on various devices, using different ISPs.
The third practice that significantly helped them better serve their customers was the adoption of cloud. Without doubt, it was their comprehensive cloud adoption that helped them manage the tremendous online traffic spikes. With people being forced to transition life almost entirely online – work, education, business, shopping, banking and entertainment – the load on the internet, and consequently businesses, shot up astronomically almost overnight.
Speaking from experience, Ramesh feels that the intelligent use of technology can help organisations and enterprises, not only survive, but thrive. With a range of agile, scalable and abundantly available technology at hand, organisations must decide what works best for them. They must determine which tools can help them work effectively and securely and invest in them wisely.
Expanding on some of the learnings from his experience that can help leaders and organisations be better prepared for the next critical event, Ramesh was of the view that leaders need to be more agile and prepare outside the box.
A good example to understand this better would be the concept of business continuity plans (BCPs). While most organisations, pre-COVID, had business continuity plans in place, a number of them necessitated employees to be physically present in the office. The pandemic made short work of these contingencies, forcing organisations to scramble and come up with reactive, stop-gap arrangements.
The pandemic has taught us, as much a cliché as it may be, to expect the unexpected. Organisations must consider all different scenarios and look to make their BCP’s as comprehensive as can be. They need to have a growth mindset and learn from their mistakes. Enterprises need to constantly test their systems and processes to ensure that it is comprehensive and a number of different (including currently unexpected) scenarios are incorporated.
Ramesh observed that organisations that could not transition quickly, resorted to short cuts, throw away solutions or put together a patchwork of ad-hoc solutions which they later had to revisit and reinvest in, leading to wastage of time and resources.
With work, business and life moving online, data has become one of the most important assets of a company. But this resource is only as valuable as the actionable insights that can be derived from it. Data analytics can empower enterprises to be better informed about their customers, their markets and the environment at large – enabling better decision-making and creating customer-centric products and services. . Data can also be monetized to create an additional source of revenue. As technology becomes more accessible and cheaper, there really is no excuse for organisations to digitally lag.
In addition to having the agile mindset, innovation culture and the right technology, Ramesh felt that the boards of the organisations should enhance their role from being focused on fiduciary and compliance to broader technology oversight and assessing the risk associated with the digital transformation. This will necessitate the directors to be more digitally savvy and potentially have a technology committee where they can dive deeper into the transformation initiatives and provide oversight to reduce risks and align them to the broader strategic objectives.
As organisations become more flexible and cloud-based, the need to operate in a safe and secure network becomes even more important. Data breaches are becoming more frequent and have become disproportionately more expensive. As digitalisation comes to the fore and takes centre stage from organisations, security becomes extremely critical. Enterprises must improve their information security maturity and make sure that not only are they protected, but the products and services they offer are secure and scalable. Organisations need to rethink their cybersecurity and more from a reactive to a proactive stance. This will allow them to quickly to roll out solutions for a diverse, remote workforce while simultaneously protecting data, client information and trade secrets.
With almost a full year behind, organisations now seem to be gradually adapting to the “new normal”. Ramesh is optimistic that businesses will look to convert this crisis into an opportunity, tapping into the massive online market that the pandemic had created. One such opportunity is the ability of enterprises to harness and utilize global talent and the gig economy more easily. Remote working has enabled organisations willing and capable to source the best skillset at the most optimal price from across the globe.
As enterprises accelerate their digital transformations, it is also vital that organisations take a more outside-in approach to augment their current teams. This would mean getting a perspective from experts from in and out of one’s industry to provide an unbiased view and to help maximise the success of the initiatives. This will help the organisation become more disruptive and better equipped to take on challenges.
Finally, Ramesh emphasised the need to be more data-driven, a culture shift that needs to come from top leadership to and percolate across the organisation to all employees. In the past, decisions would be made by the leaders based on their instinct as they were not necessarily equipped with the right data. Significant advances have been made in the data analytics space now that enable organisations to get actionable insights in a proactive manner and also elevate to predictive analytics. This will not only enable organisations to make better decisions but will also prepare them for any unexpected eventuality.
With COVID-19 still showing no signs of slowing down, the Philippine government continues to look for ways to improve its overall digital make-up for the benefit of its citizens and other governing agencies. One of which is opening areas in the country to allow movement of people to aid its economic recovery while also placing necessary measures to help contact-tracing protocols.
Accordingly, the country’s Inter-Agency Task Force (IATF) for the Management of Emerging Infectious Diseases has adopted the Safe, Swift, and Smart Passage (S-PaSS) Travel Management System developed by the Department of Science and Technology (DOST) and will now be institutionalised as the one-stop-shop app for travellers. This is considering the approval by the IATF of the uniform travel protocols for all local government units (LGUs).
The StaySafe.ph app, meanwhile, will be utilised as the primary contact tracing system by the Government. Other existing contact tracing applications will also be integrated with the StaySafe.ph system. The S-PaSS, developed by DOST VI initially as a travel management system, was primarily intended to make a hassle-free journey for Locally Stranded Individuals (LSIs), Returning Overseas Filipinos (ROFs), Emergency Travelers (ETS), and other travellers during this pandemic.
The S-PaSS is also meant to benefit not only the travellers but also the authorities to properly monitor the movement of people in different locations in the effort to prevent the spread of the virus. With the app, travellers can apply for Travel Authority (TA) online before visiting their local police station where the QR Code can be used to view one’s TA, as well as register at designated monitoring locations and track one’s travel history.
For the Philippine National Police (PNP), the tool can integrate the process of issuing a Travel Authority to quickly generate real-time reports. Likewise, in the case of other LGUs and monitoring agencies, the system will allow real-time monitoring of incoming travellers and provide convenient tracking of travellers by setting up designated monitoring locations and likewise quickly generate real-time reports. The system has a local mobility feature that replaces the use of pen-and-paper or logbooks. It can also be used to document and monitor border crossings in LGUs.
The travellers will be monitored by scanning their unique S-PaSS QR Code every time they visit an establishment and office. The system will then automatically record information on its ELogBook for recording and monitoring purposes.
Moreover, rapid adoption of digital technologies can help the Philippines overcome the impact of the Covid-19 pandemic, recover from the crisis, and achieve its vision of becoming a middle-class society free of poverty, according to the report released by the World Bank and the National Economic and Development Authority (NEDA).
The report stated that this pandemic has caused substantial disruptions in the domestic economy as community restrictions have limited the movement of people and reduced business operations nationwide. As we are now living with the new normal, the use of digital technology and digital transformation has become important for Filipinos in coping with the present crisis, moving towards economic recovery, and getting back on track towards the nation’s long-term aspirations.
Likewise, as reported by OpenGov Asia, the COVID-19 pandemic has forced several governments to re-examine the way they do things, how they interact with their citizens and how they keep their country functioning in these unprecedented times. Digital solutions in areas such as government services, education, the media, communication systems, and the economy have allowed some form of continuity in day-to-day life during a lockdown.
Although most Governments throughout South-East Asia are gradually moving towards complete digitalisation, they are all at very different stages of their digital transformation journey. It is also likely that Governments of the future will increase spending on digital infrastructure, adopt data-driven approaches in response to economic recovery, and leverage technology solutions to implement COVID-19 strategies.
A bioaerosols research project aimed at developing innovative and effective methods for detecting and disinfecting bacteria and viruses including SARS-CoV-2 in indoor environments led by City University of Hong Kong (CityU) has secured HK$ 6.15 million from the Research Impact Fund under the Research Grants Council. Bioaerosols are very small airborne particles containing living organisms and has been considered one of the possible routes of the spreading of Covid-19.
Professor Alvin Lai Chi-keung, Associate Head of the Department of Architecture and Civil Engineering and Project Coordinator stated, “The Covid-19 pandemic has already resulted in over 110 million cases and 2.5 million deaths globally since 2020. Our bioaerosols study addresses an urgent need in Hong Kong and globally to rapidly detect and eliminate pathogens in indoor air, including the SARS-CoV-2 virus. The outcomes from this study will not only immediately contribute to the fight against Covid-19 but also significantly raise our preparedness for future pandemics.”
This four-year research project is titled “Rapid Detection and Synergetic Disinfection of Bioaerosols Using Far UVC and Negative Air Ions: Mechanistic and Field Studies”.
Current methods for sampling bioaerosols cannot detect rapidly and effectively microorganisms of all sizes, especially viruses that are submicron in diameter. In order to address these shortcomings, the research team will try to couple advanced aerosol technology with molecular biology techniques such as nucleic acid-based methods to enable fast and accurate detection of targeted microorganisms. Nucleic acid-based methods are now used for testing humans, but the team will use them to analyse air samples.
These new methods will be deployed to profile the bioaerosol composition in different indoor settings in Hong Kong. In addition, the team will combine Far UVC light (far ultraviolet C light) and negative air ions to harness the synergistic effects between the two to achieve over 99.9% removal of bacteria and viruses.
Recently Far UVC has been found to be more effective in the disinfection of microorganisms and most importantly safer than conventional UVC, a known disinfectant that inactivates viruses and bacteria. Negative air ions can also disinfect microorganisms.
After the novel disinfection process has been developed in the laboratory, field tests will be conducted in diverse buildings in Hong Kong to verify its effectiveness under real-life conditions. The team will investigate how the ambient transformation of bioaerosols can influence disinfection effectiveness through laboratory experiments that mimic typical indoor conditions.
The team’s target is to develop a rapid and accurate method for detecting bioaerosols and fabricate a prototype with a high disinfection efficacy against a wide range of pathogens in different indoor environments.
It is a challenge to design a practical device that can disinfect airborne pathogens within a short exposure time, particularly portable units. However, the team members’ background in aerosol science and technology and microbiology will overcome the difficulties, he added.
Other team members include Professor Chan Chak-keung, Dean and Chair Professor of the School of Energy and Environment (SEE), CityU; Dr Patrick Lee Kwan-hon, Associate Dean and Associate Professor of SEE; and scholars from the Kanazawa University, Japan and University of Hong Kong.
Professor Chan has over 30 years of research experience in air pollution and aerosol science and Dr Lee’s research interest lies in biologically-related environmental problems. They are both Co-Principal Investigators of the project.
A crowdsourcing mobile application to enhance accessibility for specially-abled individuals has been launched in New Delhi. The app aims to augment built-up environments (steps, ramps, emergency exits), the transportation sector, and the information communication technologies (ICTs) ecosystem in India.
The Minister of Social Justice and Empowerment, Thaawarchand Gehlot, virtually launched the Sugamya Bharat application as well as a handbook called, “Access – The Photo Digest”, which have both been developed by the Department of Empowerment of Persons with Disabilities (DEPwD).
According to a press release, the app provides five main features, four of which are directly related to enhancing accessibility. The fifth is meant for only COVID-19-related issues. Users can register complaints about public places, services, or utilities that are inaccessible. They will be able to upload photographs and geo-tag the location of the premises for authority intervention. Users will also receive departmental updates, guidelines, and circulars related to accessibility on the mobile application.
The Minister explained that the app, which is available in ten regional languages, aims to help spread awareness and make public spaces, transportation, and other services more accessible. The implementation of accessibility-related activities across the country is a step towards the vision of a universally-accessible and inclusive India, the release noted.
The app’s interface is user-friendly and features easy drop-down menus and tutorials in Hindi, English, and sign language that demonstrate how to register or upload complaints with photographs. The app offers font-size adjustments, color-contrasting options, text-to-speech, and an integrated screen reader in Hindi and English.
The app will be monitored through a project monitoring unit (PMU) under DEPwD. The PMU will forward the complaints received through the app to the appropriate authorities across India. These include district magistrates, collectors for state government-owned buildings, or executive heads of Urban Local Bodies (ULB) for other buildings, including private spaces that fall under their jurisdiction.
Accessibility complaints related to central government premises or services will be forwarded to the nodal officers nominated for this purpose by the concerned ministries and departments. If the complaint is not addressed, the matter will be taken to the next highest authority.
An accessible government building is one where citizens with disabilities have no barrier in entering it and using all the facilities therein. This covers built environments such as steps and ramps, corridors, entry gates, emergency exits, and parking as well as indoor and outdoor facilities like lighting, signages, alarm systems, and toilets. Identifying accessible buildings requires annual accessibility audits that determine if a building meets a certain standard.
Further, accessible transportation plays a critical role in the growth of the economy and an inaccessible transportation system restricts mobility and denies freedom of movement and active participation for much of the population who need accessible transportation.
Access – The Photo Digest handbook is a collection of photographs from across different states and union territories. It is a tool and guide to sensitise stakeholders about ten basic features of accessibility and associated good-bad practices in an easy-to-understand pictorial form. An electronic version of the handbook will also be available on the app and the Department website.
NSW Police has selected US-based public safety software provider to deliver the first crucial components of the state’s new cloud-based integrated policing operating system (IPOS). The Commissioner signed a partnership with the vendor on recently, ending a tumultuous five-year search to replace the force’s 27-year-old core operational policing system (COPS).
IPOS will eventually be used by the force’s 18,000-strong workforce for everyday operations such as arrest and charges, criminal investigations and forensic analysis – supplanting COPS. The system – which is expected to come online progressively over the next five years – will also replace the NSW Police’s decade-old Fujitsu computer-aided dispatch (CAD) system for Triple Zero callouts. The force has also revealed that it will equip every frontline officer with ‘MobiPol’ mobile devices as part of the broader IPOS program in step with several other jurisdictions, including SA and WA.
Under the new deal, the tech company will provide the call-taking, dispatch, records, investigations, and forensics components of IPOS through its “single platform” records management system and CAD. It follows an “extensive due diligence process” that began when the tech firm and Unisys were first down-selected as the IPOS technology solution and delivery partner in March 2020. NSW Police has been working to modernise COPS – which has been used by officers since 1994 – since scoring an initial $44.8 million in the 2013-14 state budget for the overhaul.
It originally settled on another solution, dubbed NewCOPS, but ended up forgoing the decision and restarted the procurement in October 2018, before finally settling on the chosen tech firms last year. The NSW Police Corporate Services Deputy Commissioner stated that IPOS, combined with devices that ensure officers have access to real-time information, will transform the force.
The “modularised solution” is expected to create process efficiencies for NSW Police users, including reducing data entry time, decreasing incident response times and improving officer safety. IPOS will simplify processes and introduce technology that is integrated, easy to use and fast, he said. These unparalleled efficiencies will save administrative time for frontline officers, allowing them to spend more time policing.
It was previously estimated that the total cost of ownership for IPOS will be in excess of $1 billion over 15 years. The modernisation of core technology is critical for the NSW Police Force to improve operational flexibility, reduce the risk of outdated legacy systems and respond to challenges of the modern policing environment.
The Co-Founder and CEO of the tech firm stated that the NSW Police partnership – its first in Australia – “solidifies [the company’s] presence in the international public safety market.” With this historic partnership, the firm is bringing its tried-and-true approach to one of the largest police forces in the English-speaking world, he said. The tech firm is already in the process of setting up a dedicated customer support team for NSW Police, which will be its largest outside of the US.
According to another article, a new state-of-the-art Police Rescue truck, equipped with a high-tech vertical winch and a drone, was rolled out in the Blue Mountains on 24 February 2021.
The Hino 1424 Medium Rigid Crew Cab is the first of a new fleet of heavy vehicle trucks being delivered to the Police Rescue and Bomb Disposal Unit across metropolitan and regional locations in NSW. The vehicles are outfitted with the latest specialist equipment such as drones, a vertical rescue ascender, 100-tonne hydraulic cylinders, extended duration breathing apparatus, and road crash rescue hydraulics with electric rewind reels.
Police will use the vertical rescue ascender, along with a remotely piloted aircraft (drone), for rescue and recovery operations in hard-to-reach areas, such as on cliffs and in bushland.
A new Mobile Train Radio Communication (MTRC) system has been unveiled at the Divisional Railway Manager’s Office in Mumbai. The MTRC system is a technologically advanced communication system, which can help prevent train accidents and reduce delays by making communication effective. It facilitates instant and constant interaction between the train crew, the control centre, and the station master.
According to a press release, the system, which was first proposed in 2013, acts similarly to air traffic control (ARC) for aircraft. The system will monitor, track, and aid communication between all 100 trains and the control room, providing real-time updates and ensuring the smooth movement of rakes.
The tetra-based system will be operated from the central control room. It has a combination of cameras and microphones and can record digital data for up to 90 days. The system was commissioned for the Western Railway, which is one of the 18 zones under the Indian Railways and is among the busiest railway networks in the country.
The General Manager of Western Railway, Alok Kansal, explained that the system has been installed in 90 out of 100 rakes running between Churchgate and Virar. The 60-kilometre suburban section between the two is a high-density-traffic route where trains run with headway (at an interval) of approximately three minutes in peak hours. The section transports over 3.4 million passengers every day and operates over 1,300 services. The existing very high frequency (VHF)-based communication does not facilitate communication between the crew of the running train and operators in the control office.
MTRC is an integrated system with the ongoing train management system so that controllers can communicate with the driver and guards by using the train number or cab number code. In case of emergency, MTRC can make a broadcast call, the section controller can initiate the call to all guards and the same announcement can be extended to the passengers. The system is expected to be especially useful during monsoon when tracks get waterlogged and trains make an abrupt halt in the middle of the track. Even motormen can speak to other motormen for updates or to check the extent of technical failures.
With the system, rail authorities can provide information to commuters about whether there are technical problems like signal failures, OHE snapping, track failure, or a trespassing accident. MTRC uses the lowest time to connect calls, which is 300 milliseconds. The system can also track the location of trains through GPS and find out if a level crossing is open or closed. Information will be provided within ten minutes of an incident occurring. There are towers at Mahalaxmi, Borivali, Virar, Churchgate, Bandra, and Jogeshwari that supplement the system.
Western Railways is committed to providing the best of the services to the public, be it with the number of trains, quality of service, or safety of travellers. MTRC will enable passengers’ convenience and in case of an emergency, prompt communication through its advanced technology, Kansal stated. Deliberate efforts of the department have brought the number of accidental deaths and injured per day down from around 4.50 in 2019 to 1.30 in 2020.
Grab is a Singaporean multinational ride-hailing company headquartered in Singapore. It is most famously known for its transportation services, but the company offers so much more including food delivery and digital payments services via a mobile app.
Grab has just recently signed a Memorandum of Intent (MOI) with Singapore Government agencies – Infocomm Media Development Authority (IMDA) and Digital Industry Singapore (DISG) to support the development of Singapore’s tech ecosystem, by developing tech talent and R&D capabilities in Singapore.
The Memorandum will see Grab working with Singapore’s government agencies to grow its core product and engineering teams’ capabilities through the support of talent development programmes such as the TechSkills Accelerator (TeSA).
“To secure our digital future, Singapore must be the place where companies choose to build unique digital products that cater for global markets. This is the only way that Singapore can sustainably capture value and differentiate ourselves in the Digital Economy. We are pleased to partner Grab, to strengthen Singapore’s tech ecosystem in these two key areas – to build our local talent in product development, and grow Singapore as the base for high-end R&D in tech,” said Lew Chuen Hong, Chief Executive, IMDA.
These programmes seek to enhance the deep technical skills of experienced professionals, and provide hands-on training opportunities for individuals looking for roles in the tech sector.
Grab seeking to hire in the fields of AI, Cybersecurity, Data Science and Software Engineering
“Despite the challenges brought forth by COVID-19, the tech industry continues to hold promise for new and renewed opportunities for talent. Grab will work closely with IMDA and DISG to grow the talent pool in Singapore, as the country advances towards a future-ready digital economy,” said Tan Hooi-Ling, Co-founder, Grab.
“As a Singapore-based tech company, Grab fully supports the development of the tech ecosystem here. We are building products that positively impact millions across Southeast Asia, and we want to continue deepening our R&D capabilities and push the boundaries of innovation, right here at our strategic base. This is only possible with the support of Grabbers across different business functions, who are continually learning and adapting to new technologies and customers’ requirements.”
Grab expects to create around 350 new jobs in Singapore this year, to support its growth plans and as part of its regional hiring efforts.
These include the expansion of products and services to support the digitalisation of micro-SMEs, the delivery of digital financial services across Southeast Asia, as well as the development of the upcoming digibank which will be managed by a Grab-Singtel consortium.
Some of these hires will come from fields including AI, Cybersecurity, Data Science, Software Engineering, as well as Product Management and Design. They would be involved in projects to improve merchants’ abilities to offer better and tailored products to their customers; as well as to improve the user experience of the merchant app, which will be an all-in-one solution featuring modularised Grab services to select from.
Many of them would also be powering Grab’s innovation engine that uses deep tech to build and enhance services for its users meaningfully; as well as building stronger integrations with local partners. Besides tech roles, Grab will be offering new employment opportunities in areas such as finance, operations, legal, public affairs and business development.
“We are excited that industry leaders like Grab are stepping up to deepen their R&D activities here while providing more job and skills development opportunities for Singaporeans. Covid-19 is an unprecedented crisis that has impacted lives and livelihoods, but such partnerships position Singapore well to weather the storm and emerge stronger than before. Together, we will continue to build a vibrant and sustainable tech ecosystem to drive innovation and capture growth opportunities,” said Ang Chin Tah, Vice President and Head, DISG.
One thing that the pandemic has shown about payments is that speed, reliability and near-universal access have never been more important. For Singapore, the first wave of non-bank financial institutions (NFIs and Fintechs), are now connected to FAST, Singapore’s real-time payment rails.
Financial tech firms believe this move signifies the growth of the local fintech industry. By giving firms access to FAST, previously the exclusive domain of banks, regulators are enabling greater competition and innovation in the payments space. Aimed ultimately to the benefit of consumers, near-universal access has never been more important in a world powered by instantaneous digital interaction.
According to them, whether it is listening to music or taking an online class, consumers are benefitting from a better experience using tech — one that is becoming faster, cheaper, more convenient and most importantly, offers a variety of choice, no matter where you are.
In contrast, they also believe that the financial services industry has largely not kept pace; while fintechs have gradually begun to fill this void by offering a variety of services that were traditionally the domain of the incumbent banks.
For the consumer, on the other hand, the benefits of this seemingly obscure change to the payments plumbing may not seem obvious. But direct participation in FAST helps non-banks level the playing field with traditional banks, increases competition and allows fintechs to offer a better, cheaper and faster service in a digital world. Beyond this, fintechs gain better control over the entire customer experience when connected directly to the national payment system, rather than having this access through a bank.
Fintechs said that this move will also curtail delays, inefficiency and high fees. A recent report from The World Bank’s Remittance Prices Worldwide showed that sending remittances costs an average of 6.75% of the amount sent — far higher than the United Nations’ goal to push this down to lower than 3%. More middlemen in the money movement process mean additional costs and delays resulting in a sub-optimal experience for the end consumer, especially for small businesses.
Financial tech firms are also looking forward to building more competitive products that make payments even faster and cheaper for citizens. They also added that for the fintech sector to thrive, policymakers need to manage risks while encouraging growth. Striking this balance between regulation and fintech innovation is not easy, especially with the rapid speed of technological change.
Accordingly, as reported by OpenGov Asia, The Monetary Authority of Singapore (MAS) pushed the commencement of the Singapore Payment Services Act (PS Act). The new PS Act will enhance the regulatory framework for payment services in the country, strengthen consumer protection and promote confidence in the use of e-payments. The PS Act adopts an activity-based licencing framework in recognition of the different kinds of activities and new developments in payment services.
Just recently, as also reported by OpenGov Asia, Enterprise Singapore (ESG), Infocomm Media Development Authority (IMDA) and the SG Digital Office (SDO) announced that 10,000 stallholders – more than half of Singapore’s stallholders – have adopted e-payments. 10,000 hawkers using e-payments, with transactions growing four times since June 2020. Transactions volume and value for January 2021 also crossed the 1.2 million and S$14 million mark respectively for the first time.
As one of the centres of innovation in the world, Singapore is well-placed to foster a more open and transparent payment ecosystem that benefits consumers. The country aims to lead the charge in encouraging constructive competition and closer collaboration in the sector.