Pitch
Having a cashless society where every payment and transcation can be made through payment apps using a mobile device
Description
Make life easier/more difficult for Singapore?
Easier
Describe the change
Imagine this. No bulky wallets, pockets no longer filled with loose change and every single payment can made using just a phone.
In Singapore, almost everyone has a phone or at least a mobile phone. Soon everyone will have a smart phone in time to come. With apps such samsung pay and apple pay on the rise. It is only a matter of time before everything goes cashless and all we need is a phone for our everyday transactions. Singaporeans in 2030 will experience a cashless era and physical notes and coins will be a thing of the past.
How will this change impact Smart Nation Singapore in 2030?
The benefits for a cashless society are two-fold:
Firstly, Convenience. I think Singaporeans would embrace the change because of the convenience that it provides. In Singapore where things are fast and efficient, convenience is a must for a fast-paced society.
Second, Safety and Security. Singaporeans need not worry about their money being stolen because such apps require fingerprint or a pin in order for transactions to go through. This is above and beyond the security measures that are built into such apps to ensure a secure and safe transaction
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