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data-url-path="/singapore/tech-in-asia/sgqr-reshapes-singapores-payment-scene-who-wins"><div><div><div data-component="component-container" class="container px-3 md:pt-4"><div data-component="component-container" class="container px-0 mx-auto md:px-3 w-full md:w-10/12 lg:w-8/12 mb-4"><div class="flex flex-wrap items-center pb-2 md:px-6 md:pb-4"><div class="font-base font-light font-poppins text-4xs tracking-[1px] text-gray-650"><span class="ml-1">SUBSCRIBERS</span></div></div><h1 data-testid="article-title" class="mb-2 font-lct text-4xl font-bold !leading-[1.3] tracking-[-0.045rem] text-gray-850 md:px-6 md:text-10xl">As SGQR+ reshapes Singapore’s payment scene, who wins?</h1><div class="mb-6 md:px-6 min-h-[50px] text-gray-850 mt-4 space-y-4 md:flex md:flex-wrap md:space-y-0" data-testid="article-authors-list-component"><div class="flex flex-row items-start justify-start gap-2" data-testid="byline-component"><div class="flex flex-shrink-0 flex-row items-center justify-start"><img class="rounded-full" src="/assets-web2/default-BSkyYMCQ.png" alt="Melissa Goh" width="50" height="50"/></div><div class="flex flex-col flex-wrap pl-2"><div class="flex flex-wrap gap-x-1.5"><h4 class="align-middle font-poppins font-semibold text-gray-850 word-break text-base" data-testid="byline-name-component"><a class="!text-gray-850 hover:underline" href="/authors/melissa-goh1" target="_blank">Melissa Goh </a></h4></div><div class="font-public-sans text-xs font-normal leading-6 text-gray-650"><span data-testid="article-published-time">Published Sat, Nov 23, 2024 · 07:56 AM</span></div></div></div></div><div class="mb-3 flex items-center justify-between border-b border-t border-gray-250 py-3 md:mx-6 md:mb-6 md:py-4"><div data-testid="article-keyword-filter-first" class="w-full"><div data-testid="article-top-keyword" class="p-3 inline-block w-full bg-transparent !p-0 relative"><div class="group relative"><div class="flex items-center"><a class="line-clamp-1 place-self-center break-all 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PHOTO: BT FILE </div></div></li></ul></div></div></div><div></div><div class="body-content tracking-tighter mb-6 mt-4 font-lucida text-lg font-medium leading-normal tracking-[-0.05625rem] text-gray-850 antialiased md:px-8 md:text-xl" data-testid="article-paragraphs-component"><div class="relative [&>*:last-child]:relative [&>*:last-child]:after:absolute [&>*:last-child]:after:inset-0 [&>*:last-child]:after:bg-gradient-to-t [&>*:last-child]:after:from-white [&>*:last-child]:after:to-transparent mb-4 md:mb-6"><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">PAYMENT services firm Nets has had a four-decade head start in Singapore.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">But that advantage may be diminishing in line with a push by the Monetary Authority of Singapore (MAS) to streamline payments, give merchants more choices, and make various payment apps more compatible with each other.</p><p class="mb-4 md:mb-6 relative after:absolute after:inset-0 after:bg-gradient-to-t after:from-white after:to-transparent leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">SGQR+, a new solution unveiled this month that is offered under two different tracks – one by Nets and the other by fintech firm Liquid Group – paves the way for a new contender to match and potentially go beyond Nets’ local merchant network in size.</p><p class="mb-4 md:mb-6 hidden leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">This could be a game-changer for digital banks, e-wallets, and financial institutions not currently part of the Nets network.</p><h2 class="mb-4 md:mb-6 text-[21px] md:text-4xl -tracking-5% font-lucida font-bold" data-story-element="sub_head" data-testid="sub-heading-component">A brief history</h2></div><div class="mb-6 border-t border-gray-175"><section class="mx-auto my-4 w-full" data-testid="article-purchase-link-component"><section class="mx-auto flex w-full flex-wrap items-center justify-between gap-4 lg:gap-0 lg:px-3" data-testid="article-purchase-link-version-2-component"><p class="mb-0 font-public-sans text-xs tracking-normal">Copyright SPH Media. 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