Fave, a fintech platform providing QR payments to restaurants and retailers in Southeast Asia and India, will be a part of the SGQR+ pilot led by the Monetary Authority of Singapore (MAS).
SGQR+ is a more interoperable version of the existing SGQR system, which was introduced in 2018.
The new SGQR+ allows merchants to sign up with a single financial institution to unlock a diverse range of local and cross-border payment schemes.
The SGQR+ pilot will be limited to selected merchant outlets in Districts 16 and 17 of Singapore throughout November 2023 and showcased during the upcoming Singapore Fintech Festival on 15-17 November.
There are two tracks under the SGQR+ pilot which are the Master Merchant Acquirer track by NETS Group and the Interoperable Switch track by Liquid Group. Fave is participating in the latter.
Chen Chow Yeoh
Chen Chow Yeoh, Co-founder, Fave said,
“MAS has always supported the thriving fintech ecosystem in Singapore with a series of proactive measures and innovative steps.
Fave is thrilled to be part of their SGQR+ POC to advance interoperability of QR payments in Singapore.”
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- Source: https://fintechnews.sg/79748/payments/fave-to-participate-in-mas-led-sgqr-pilot/
