UQPAY rolls out SGQR payment service for merchants

Monday 8 October 2018 14:08 CET | News

UQPAY has released Singapore Quick Response Code (SGQR) payments for its merchants, combining its multiple existing payment QR codes in a single QR code.

The initiative is aimed to help businesses manage the different in-store cashless payment scheme and reduce the fuss of displaying QR payment labels. The announcement came days after Monetary Authority of Singapore (MAS) unveiled the SGQR, citing this launch as the newest feature of the Singapore e-payment system.

SGQR is adopted and customized based on EMVCo QR Specifications for Singapore market to ensure international interoperability, multi-tenancy of QR schemes and non-sensitive data presented for payments.

With the launch of SGQR, merchants are only required to display a single QR label indicating the different payment schemes it accepts. For existing merchants currently accepting QR payments, there is no action required as UQPAY will be progressively replacing the merchants’ existing QR payment codes label with SGQR.

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Keywords: UQPAY, SGQR, payment service, merchant, Singapore
Countries: World