Singapore could soon see a sharp uptake of contactless transactions as Android Pay makes its debut here today — the first in Asia. This follows the launch of Apple Pay in late April and the launch of Samsung Pay earlier this month.
This payment option will be available to anyone with a NFC-enabled Android device running KitKat 4.4 or higher. Users also need an existing debit or credit card from MasterCard or Visa, or any credit and debit card issued by DBS, OCBC Bank, POSB, Standard Chartered Bank, and UOB.
The supported merchants number over 200 spread across 1,000 retail locations. The major retailers supported include 7-11, BreadTalk, Cold Storage, McDonald’s, NTUC FairPrice, StarHub, Toast Box, Uniqlo, and Watsons. For the full list, click here.
Android Pay will also enable customers to store their customer gift cards, loyalty cards and special offers right in the app. It is currently working with NTUC Link’s Plus! Rewards Programme and CapitaLand’s CAPITASTAR to implement this feature.
In addition, Android Pay will be partnering with several e-commerce players to allow customers to checkout via its service later this year. They include Deliveroo, Grab, Shopee, Singapore Airlines, Uber, and Zalora.
Merchants who wish to get onboard the programme can visit the Android API Developer site to find out more. Android Pay also works with major e-payment platforms such as Braintree, Stripe, Worldpay and FirstData.
“Consumers today are already adopting contactless payments in popular categories such as supermarkets and quick service restaurants (QSR). In supermarkets alone, we’re seeing more than two million transactions being made on Visa payWave each month,” said Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei.
“QSRs such as McDonald’s and ToastBox, which introduced contactless payments last year, have also seen accelerated growth. Visa payWave transactions have more than doubled year-on-year at McDonald’s, with Toastbox seeing close to 100 per cent of all Visa transactions being made on Visa payWave,” she added.
“After adopting mobile contactless payments, our credit card users show a 50 per cent increase in contactless transactions, while debit card users triple their contactless transactions. We estimate that mobile contactless transactions will contribute to 80 per cent of our contactless volume by 2020,” said Anthony Seow, Head of Cards and Unsecured Loans, Consumer Banking Group, DBS Bank.
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