What is SGQR+ Proof Of Concept (POC)?
The Monetary Authority of Singapore (MAS), in collaboration with Liquid Group, NETS, and Banking Computer Services (BCS – a subsidiary of NETS), will conduct a POC for interoperable QR payments in Singapore, known as SGQR+. These organisations will serve as the POC leads for the project. The POC, which builds on the existing Singapore Quick Response Code Scheme (SGQR), will explore solutions that can showcase the ability for merchants to receive live, real-time, interoperable payments, facilitated by a single merchant acquirer.
Why SGQR+?
While SGQR has served us well, there is room for us to consider how it can be enhanced to further promote interoperability for QR payments in Singapore. SGQR+ aims to achieve the following key objectives:
- Consolidate the fragmented payment landscape – Merchants need not work with multiple acquirers to access different payment schemes. SGQR+ will allow merchants in Singapore to accept payments from a wide variety of payment schemes in a convenient and efficient way, through a single merchant acquirer. Merchants will only need to maintain a relationship with a single preferred merchant acquirer to allow consumers to pay with their preferred payment app, which means merchants can benefit from one-touch servicing and a single source for reconciliation.
- Improve customer journey – While QR codes are consolidated into a single SGQR label today, consumers still need to look out for the payment schemes that are accepted by each merchant as most payment schemes are closed loop and non-interoperable. Greater interoperability via SGQR+ would allow consumers to use their preferred payment app, regardless of the merchant’s selected acquirer.
- Enhance cross-border interoperability – SGQR+ aims to make it much easier for merchants to accept payments from foreign payers. Cross-border interoperability will be critical for the future readiness of SGQR as a national payment rail for QR payments.
Overview of SGQR+ POC
SGQR+ is designed to provide interoperability among different payment schemes for QR acceptance at merchants. SGQR+ allows merchants in Singapore to accept payments from a wide variety of payment schemes in a convenient and cost-effective way, through a single merchant acquirer.
To showcase the ability for merchants to receive live, real-time, interoperable payments, a POC for SGQR+ is being conducted from 1 to 30 November 2023, at the Singapore FinTech Festival and in the Changi vicinity (i.e. Districts 16 and 17). Consumers can pay at participating merchants in these locations using any payment app partnered with Liquid (as a switch operator) or NETS (as a master merchant acquirer). At the same time, merchants only need to maintain a relationship with a single preferred primary acquirer to allow their consumers to pay with their preferred payment app.
POC Tracks
Track I – Interoperable Switch by Liquid Group
Liquid Group provides interoperable QR payments for various wallets and payment schemes, including acceptance of card-linked QR payment between different issuers and acquirers, through its network switch called XNAP.
XNAP benefits to merchants and consumers:
- Participating merchants will be able to accept payments from a wider range of wallets and payment apps. For the first time in Singapore, merchants will also be able to accept card scheme-linked QR payments from multiple local and overseas payment apps.
- Consumers will be able to pay using their scheme cards for QR payments via multiple participating wallets and payment apps, and be able to utilize their unique rewards, incentives and digital programs run by the individual wallets and payment apps issuers for an elevated consumer experience.
XNAP benefits wallet and payment app issuers and acquirers by:
- Enabling interoperability for local and overseas wallets and payment app issuers: XNAP allows issuers to pay at SGQR+ merchants under this track, without the need to integrate with each acquirer individually.
- Expanding merchant acceptance base: By performing a one-time integration with XNAP, participating acquirers can offer their merchants a wider base of wallet and payment app issuers.
Track II – Master Merchant Acquirer by NETS
NETS provides interoperable QR payments to enable merchant payments acceptance from multiple payment schemes and provide customers with a seamless way to transact domestically and across borders using their preferred payment app.
The SGQR+ POC participating wallets and merchants will be able to establish a common standard to interact with, and to benefit from existing efficiency and maintainability. Under this track, NETS is the only acquirer for issuers, merchants and participants.
Benefits to merchants and consumers:
- Wider payment acceptance: Participating merchants will be able to accept payment from a wider range of local wallets and payment apps. We are expanding the acceptance of payment options via various foreign national payment partners.
- Seamless user experience: When using foreign or local wallet/apps in Singapore, user journey for consumers and merchants remains the same. No change in existing operational setups.
- One-stop reconciliation: NETS will continue to leverage its current Merchant Portal for integrated reports and validation for merchant transactions and settlement.
Benefits wallet and payment app issuers:
- Access to ready merchant base: As the leading acquirer in Singapore, NETS provides issuers with the advantage of a larger merchant base.
- Ready to go: Hassle-free as there is no additional integration required for existing wallet issuers currently reading the NETS QR payload.
POC Participants
The key participants and stakeholders of the POC are:
| SGQR+ Scheme Owner | Monetary Authority of Singapore (MAS) |
| Project Manager and Knowledge Partner | Banking Computer Services Pte Ltd (BCS) |
| Switch Operator | Liquid Group |
| Master Merchant Acquirer | Network for Electronic Transfers (Singapore) Pte Ltd (NETS) |
| Merchant Acquirers | Fave, Fomo Pay, Liquid Group, NETS and UQPay |
| Payment Schemes | Active SG, Alipay, Alipay+, ChangiPay, Diners, DuitNow, EZLink, FavePay, Global Loyalty Network, GooglePay (via XNAP), GrabPay, iAPPS, Kris+, ShopeePay, LiquidPay, Mastercard, Moolahgo, NETS, PromptPay, Singtel Dash, UnionPay, Visa, WeChat, and XNAP |
| Local Issuers | Active SG, ChangiPay, DBS Paylah!, Diners, Discover, EZLink, Fave, Grab, iAPPS, Kris+, Shopee, LiquidPay, Moolahgo, NETS, NETSPay, OCBC Digital, SCMobile, Singtel Dash, UOB TMRW, Xfers and XNAP |
| Foreign Issuers | Foreign issuers for the following schemes:
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SGQR+ Activities at Singapore FinTech Festival 2023/24
| 15 – 17 November 2023 |
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| 17 November 2023 |
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| 07 November 2024 |
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Interoperable QR payments in Singapore – POC Report (published on 7 November 2024)
Click here to download the POC Report. Content of the report is also available at the MAS website.
Media Release (on 31 October 2023)
Click here to view the SGQR+ POC media release.
Interoperable QR Payments in Singapore Whitepaper (published on 31 October 2023)
Click here to view the Interoperable QR Payments in Singapore Whitepaper.
SGQR+ Lucky Draw (2023)
SGQR+ POC Lucky Draw Winners:
| Name | Mobile number (last four digits) |
| Daviid | XXXX1217 |
| Rohith Rajamony | XXXX3977 |
| Mabel Soliven | XXXX1905 |
| Lin Muhan Erin | XXXX6646 |
| Neo Xuan Man | XXXX5890 |
Terms and Conditions
- Winners will be notified via email.
- Prizes will be given out via a unique promo code.
- If prizes are not claimed within 2 months, they will be forfeited.
- The prize comprises of 5 delegate pass to Singapore FinTech Festival 2024, with each ticket estimated to be worth S$1,000 based on the 2023 ticket price for this category.
- Click here to view full set of Terms and Conditions.
This lucky draw is proudly sponsored by Elevandi and administered by BCS, a subsidiary of NETS.
Note: BCS (a subsidiary of NETS) is hosting this website as the project manager and knowledge partner of SGQR+. IMDA and MAS are the co-scheme owners of SGQR.
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