CapitaLand, the Singapore real estate giant behind much of Asia’a malls, announced today the launch of StarPay a digital payment platform for its tenants and consumers across the Lion City.
Rolling out in Singapore, retailers will be able to accept payments via QR-codes, credit or debit cards and other international payment platforms. The goal of the project is to turn it into a do-everything payment system for tenants of CapitaLand malls.
Consumers will need to download the CapitaLand app called CapitaStar because the platform is an in-app feature.
To start, the project will include 2,500 stores in 17 malls in Singapore. It is part of the smart terminal called CapitaLand Digital Merchant Services Suite which also includes data analytics and rewards management tools.
“Ultimately, we want to create a seamless experience where it is easier for our shoppers to find what they want, pay for the item in any preferred mode of payment, be rewarded instantly with [the company’s reward system STAR$] and enjoy better customer service round the clock,” said Lim Ming Yan, the President & Group CEO of CapitaLand Group.
The service has also managed to recruit an intriguing set of partners — some of whom may have been thought of as competitors in a different circumstance. They are:
- Grab and its payment platform GrabPay
- American Express
- DBS PayLah!
The first mall to launch the system will be Raffles City Singapore on April 18. It will begin by accepting StarPay and American Express before on-boarding GrabPay, AliPay, NETSPay and DBS PayLah! will be added from May onwards.
According to the company, it’s not overly difficult to add additional payment options, CapitaLand expects more payment services to be accepted before the end of the year.
The company is also using the launch of StarPay to incentivise people to get into the malls’ membership platform. They are giving away 5x to 8x STAR$ points as part of a launch campaign to get StarPay off the ground.
Below is the promotional video to visualise how the service works (hint: it looks like a lot of digital payment platforms).
Correction: A previous version of this article confused American Express with MasterCard. American Express is the payments partner.