Contactless ecosystem to drive Singapore closer to its Smart Nation dreams

LTA just recently announced the new tap and go scheme for public transport.

There is indeed no stopping Singapore's Smart Nation push. Just recently, the Land Transport Authority and Mastercard announced the pilot of Account-Based Ticketing system for public transport, allowing the usage of contactless credit and debit cards for fare payments.

Mastercard Singapore Country Manager Deborah Heng noted that a contactless ecosystem would drive Singapore closer to its Smart Nation goals.

"We have certainly observed a growth in the adoption of contactless payments and we expect this to continue in the next few years especially in categories such as transit, food & beverage, retail and grocery shopping. Contactless payments tend to stick with users once they realise how convenient it is to just ‘tap and go’ when making payments," Heng noted.

She explained that useful data can be generated from contactless payments to tailor better solutions. For instance, it can detect patterns in commuter journeys and demands. It can also gain insight on purchasing trends for business decisions.

Meanwhile, Heng explained that businesses can achieve a lot of advantages using electronic payments.

"Whether it is in enhanced safety and security of payments for both consumers and merchants to providing a seamless, convenient checkout experience, electronic payments such as contactless payments allows businesses to experience significant savings in operational efficiencies and cost," she explained.

Check out the two infographics below to know more about LTA's new Account-Based Ticketing system and how contactless payments can help the Smart Nation initiative.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia