Wirecard scandal, the new Enron in Germany

[Throttle2]

8 minutes ago, inlinesix said:

E-wallet is still cash as it is linked to bank account and NOT CC.

Unlike Japan, NOTES in China damn smelly.  Give me also throw away.

Yeah, i was talking about cold hard cash. Not electronic cash. 

But thats the problem with China.  In Japan the notes are usually very minty. The Japanese  take good care of their notes. 

 

[inlinesix]

5 minutes ago, Throttle2 said:

Yeah, i was talking about cold hard cash. Not electronic cash. 

But thats the problem with China.  In Japan the notes are usually very minty. The Japanese  take good care of their notes. 

Holding cold hard cash is so passe & unhygienic (including Japan).

[Jman888]

54 minutes ago, Icedbs said:

I am not sure if I miss the news in the mainstream media or they purposely avoided it.

it was reported on tv news early this year when it first came to light, and this week.

[Throttle2]

2 minutes ago, inlinesix said:

Holding cold hard cash is so passe & unhygienic (including Japan).

I old school mah.

Stuffing 50 $1000 bills in pocket to go shopping for Rolexes is very shiok.

receiving wads of $1000 bills when selling Rolexes also very shiok

Edited October 6, 2020 by Throttle2

[inlinesix]

7 minutes ago, Throttle2 said:

I old school mah.

Stuffing 50 $1000 bills in pocket to go shopping for Rolexes is very shiok.

receiving wads of $1000 bills when selling Rolexes also very shiok

That's why e-wallet nvr take off in Singapore lo.

[ToyotaShuttle]

25 minutes ago, inlinesix said:

That's why e-wallet nvr take off in Singapore lo.

e-wallet credits aren't as fungible as cash.

[inlinesix]

3 minutes ago, ToyotaShuttle said:

e-wallet credits aren't as fungible as cash.

I am talking about paynow, alipay & wechat wallet le.

[Ct3833]

On 10/5/2020 at 6:28 PM, Mustank said:

I think I better log in see whether my $10 utrip card got tio kope or not

If tio kope how ?  see MP ? 😅😅

[Mustank]

7 hours ago, Ct3833 said:

If tio kope how ?  see MP ? 😅😅

Poh mata ☹️

[Yewheng]

17 hours ago, inlinesix said:

I am talking about paynow, alipay & wechat wallet le.

Erm.. I feel that e-payment started to take off already. It is really very convenient and fast. Like 2 days back I went to simlim to buy a mini pc. The shop say pay cash, if by nets will need extra charges. Being lazy to go to atm to withdraw money, I asked can paynow. The shop have paynow so I use paynow to pay for the transaction. I guess that maybe some those businesses that pay by cheque to purchase something or some services might already also starting to move to more convenient and faster way which is paynow. 

 

So could forsee that e-payment will continue to pickup pace. Ok for small amount of money maybe cold hard cash still most popular. However when come to big ticket items, e-payment would be the way to go already. That being said, hope government don't totally shut down cold hard cash transaction as there will always have people that are too slow to catch up with the change especially with the elderly. There might also have many tourist, foreigners and etc that do not have paynow and mastercard, visa and etc these payment might not be that favourite in terms on exchange rate as compared to change money at money changer. We are not China, we are a very small county so must always set aside things that works will all the way or previously so as to give people the options to choose which to use. 

[kobayashiGT]

MAS website got this.

[Blueray]

Thousands face online payment disruptions after Wirecard's exit

Quote

Thousands of customers are experiencing disruptions to online payments as the fallout arising from troubled financial services provider Wirecard's exit continues.

Telco M1 has stopped its monthly recurring payment option, requiring customers to instead pay their bills through the AXS option in the My M1 app. Likewise, Safra has suspended online payment services due to the cessation of Wirecard's services in Singapore.

https://www.straitstimes.com/business/thousands-face-online-payment-disruptions-after-wirecards-exit

so M1 don't need to pay bills ? 

[Sdf4786k]

On 10/5/2020 at 8:41 PM, kobayashiGT said:

Favepay can link with credit card too. It is more like a CRM programme to retain user from going back to buy from the vendor. I think it works well with F&B. Retail shop, maybe not.

Fave pay has a feedback loop back to the establishment that u dine.

So if the food sucks, u can give poor rating. 

[kobayashiGT]

1 hour ago, Sdf4786k said:

Fave pay has a feedback loop back to the establishment that u dine.

So if the food sucks, u can give poor rating. 

Yeah. favepay basically is a enhanced CRM system that have payment gateway. Retention value is high.