There is a recent trend that I find it unsettling in Singapore.

The government comes out with some initiative or direction and then the media just spends the next month talking about it.

It is as if it is some kind of brainwashing session.

This started with the drive to have more engineers. Then it was on STEM and entrepreneurship.

Now its on the move to cashless.

The prime minister of Singapore tweeted out that there are too many e-payment system.

That is correct.

And that it is costly for businesses.

That is also correct but it may not be the way we think.

Too Much Focus on Mobile and QR Codes

In the aftermath of this, I observed that there are many news in the media about innovative payment offering.

The first is that all the banks come together to offer what I see as a progression of FAST …