As part of the Smart Nation initiative, the Government of Singapore has been introducing cashless payments on a large scale. Various efforts have been made to incorporate the use of cashless payment into citizens' lives. === Next Generation
CEPAS Ticketing === In March 2017, the
Land Transport Authority (LTA) began the Next Generation CEPAS Ticketing (CEPAS 3.0) that allowed credit/debit users to use their debit and credit cards to pay for public transportation which was launched in April 2019, and stored value cards from January 2021. It was planned to be phased out by 1 June 2024 but the decision was overturned on 23 January 2024, thus allowing the system to operate until further notice. Also, cash top-ups at the MRT passenger service centres were announced to be removed which were completed by March 2018. Single-trip tickets are also completely phased out by 2022,
DBS Bank,
OCBC Bank and
United Overseas Bank, which jointly own the existing electronic transaction system NETS, had collaborated with other banks such as
HSBC,
Maybank,
Standard Chartered Bank and
Citibank to unify the cashless system in Singapore. Consumers from all seven banks will be able to use Nets'
QR code system to make payments at hawker stalls. More than 600 stalls had implemented the system in 2017. As a subsidiary of
Land Transport Authority, contactless transport payment card operator
EZ-Link has also partnered up with NETS to introduce e-payment methods in local hawker centres. Starting from April 2018, payment at hawker centres can be carried out using EZ-Link or Nets card using a single Nets terminal. There were mixed responses from the food vendors. Several stall owners expressed their opinions on the efficiency of the system, stating that sometimes the cashless electronic transactions do not go through, causing delays in the queue of the business. Others mentioned that the new system can prevent hygiene issues, which might occur when cash is involved. ==Surveillance concerns and issues==