Sunday, May 05, 2013

Electronic payments

I just learned that the Inland Revenue Authority is taking a new initiative to get vendors to register and operate an account to receive payments from the public sector. The link

I welcome this move. It clearly reflects the unsatisfactory state of affairs in Singapore.

This type of service should be extended to the private sector as well, but the lead has to be taken by the Monetary Authority of Singapore (MAS). They cannot just sit back and hope that the banking industry will make it happen.

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