SGQR – One QR Code to rule them all

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) just launched the Singapore Quick Response Code (SGQR), a single QR code that combines multiple e-payment solutions into one. The SGQR came after the setup of an industry task force last August by co-led by the MAS and IMDA. Members of the task force include both Singapore and international payments providers, who will implement SGQR for their Singapore merchants.

SGQR is not a separate payment scheme. There is no new app for you to download or new digital wallet for you to set up. It uses your existing e-payment solution such as GrabPay, PayNow, Alipay, WeChat etc. SGQR simply replaces all the QR codes from various e-payment solutions into one QR code. This allows merchants to accept multiple e-payment without the need to display multiple QR codes.
With SGQR, consumers will see a single SGQR label that shows all QR payment options that the merchant accepts. For merchants, SGQR will be an infrastructure-light and cheaper way to accept multiple types of e-payments.

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