QR Code Payments - EV charger

What are QR code payments?

Quick Response (QR) code payments are a form of digital payment where QR codes are scanned using a smartphone or reader to enable cashless payments. This is processed through payment service providers such as banks and e-wallet companies.

How do they work?

In Singapore, you can get your Singapore Quick Response Code (SGQR) by signing a contract with a MAS-approved merchant acquirer.

Once you get this code, business transactions can take place either by asking your customers scan the QR code from your service provider or you can display the SGQR code for customers to scan.

How this payment system benefits EV charger

This new system of payment comes with various benefits when you’re looking to grow your EV charger business, including:

• Easy and secure payment mode for your EV charger since your customers only have to use their smartphones, smartwatches or contactless cards.

• With numerous e-wallet companies and service providers, you have abundant options to compare transaction fees (MDR). QR payments promote cost efficiency, replacing the need for a POS system with a simple standee displaying your QR code paired with your smartphone.

• Real-time transactions at an exchange rate determined by a local currency settlement framework from Malaysia and Indonesia’s central banks.