Earlier this year, Apple Pay was first introduced in a new wave of contactless payment via smartphone. Samsung Pay was launched recently in June, and Android Pay rolled in a few weeks later. While this technology isn’t exactly new (how many of us have been using Visa PayWave?), it’s slowly becoming a more legitimate form of payment, and could even replace your physical wallet in the near future.
Reasons to use a digital wallet
There are two good reasons to use an e-wallet, and both are sure to appeal to Singaporeans: it’s easy, and it’s free.
If you’re old enough to remember the days when mobile phones were the size of a fist (Nokia 8210 or Motorola RAZR anyone?), you also have to admit that the smartphones we’re carrying around now are just ridiculously large. Some models are so big they make you look like you’re holding an iPad up to your face when you make a call. Since your phone is so big, don’t weigh yourself down further with an enormous wallet stuffed with credit cards and receipts.
You are also not charged any transaction fees whatsoever when you pay using these apps—they make money from the banks instead of merchants, which means no charges are passed on to you. Sweet!