News

Information Technology

Staff Reporter

, Singapore

Published:

5 years ago

SGQR to be rolled out across 1,000 vending machines by 2020

FOMO Pay tied up with fintech D’Cube concepts for the initiative.

Singapore will have its first SGQR-enabled vending machine as quick response (QR) payment processing platform FOMO Pay ties up with fintech firm, D’Cube Concepts, according to a press release.

The firms aim to upgrade 1,000 vending machines across Singapore by 2020. It will be rolled out progressively over the next three years and will be made available to major vending machine operators in Singapore.

Currently, there are 12 pilot models in Singapore that have been upgraded to accept payments through SGQR.

The vending machine will be upgraded with XVend, an Internet-of-Things (IoT) 4G solution, that enables e-payment and e-inventory online. XVend can be installed into any vending machine and is scalable to add new e-wallets.

Vending machine operators will also have access to real-time payment transaction and inventory records online.

The upgraded vending machine can accept more than 20 e-payment schemes consolidated under SGQR. The upgrading process will only require three minutes with no physical modification required.

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