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Asia and Pacific Region Forum

Singapore to make electronic money legal tender
by 2008....

 11:52 am on Dec 30, 2000 (gmt 0)

"all merchants will be required to accept it regardless of the cost of the purchase"

Internet News [internetnews.com]



 12:34 pm on Dec 30, 2000 (gmt 0)

And if any country can achieve it Singapore can.

This is closely linked to the Smart Card industry, a particluar interest of mine. The Smart Card industry in Asia is Government driven, and in the Western World it is Market driven; except USA which still seems to lag behind.

Singapore was one of the first countries to introduce automatice toll fare collection based on Smart Cards and set up a Government driven collection and reconciliation network to drive it. So they are more than half way there already.

Also the population is already very familiar with the concept of e-cash, another plus.

It could easily be the first country to integrate e-cash with the populace on an everyday basis. Unlike the article, I beleive 7 years is very possible.

Good Find NFFC, thanks


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