One QR code to rule them all: Singapore launches SGQR

SGQR QR code
Image credit: MAS

The Monetary Authority of Singapore (MAS) has the Singapore Quick Response Code (SGQR), a unified QR code that combines multiple payment QR codes into a single label to simplify QR payments for consumers and merchants.

The Singapore Quick Response Code (SGQR) was developed by an industry task force co-led by MAS and the Infocomm Media Development Authority (IMDA). Members of the task force include both local and international payments providers, who will implement SGQR for Singapore merchants.

Consumers will be able to quickly check if their preferred QR payment option appears on the merchant’s SGQR label. To pay by SGQR, consumers simply select their preferred payment scheme from the available options, login to the relevant payment app, and scan the SGQR code to pay.

For merchants, the scheme means they only need to display a single SGQR label showing the e-payments it accepts, which means less clutter on the store front and quicker payments processing. It also means new QR payments options, both domestic and international, can be streamlined into the SGQR label later.

SGQR will be adopted by 27 payment schemes including NETS, Singtel Dash, GrabPay, Alipay, Liquid Pay, Mastercard and PayNow.

Merchants that currently offer QR code payments will have their existing QR codes replaced with a single SGQR label over the next six months. The first phase of SGQR label replacement, starting with merchants in the Central Business District, will be commencing later this month. Consumers will still be able to use regular QR codes as usual at merchants who haven’t yet switched to SGQR during the transitional period.

According to the IMDA, the SGQR specifications are based on the “QR Code Specification for Payment System – Merchant-Presented Mode” issued by EMVCo in July 2017, and customized for the Singapore market.

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