With increased digitalisation spurred by the Covid-19 pandemic, will cash go the way of the dodo in Singapore?
E-payment veteran Jeffrey Goh replied with a resounding "no".
Mr Goh, head of Grablink, a unit of South-east Asia's ride-hailing giant Grab, said physical cash still remains very relevant as a payment option in the event of a network breakdown.
"We need to think about it from a business continuity (perspective). What if the network is down?" he said, speaking at an askST @ NLB session on Friday (April 30).
E-payment networks can break down for various reasons, including cyber-security attacks or lack of capacity planning, said Mr Goh.
He was speaking on the topic "Will cash go the way of the dodo in Singapore?" in the latest edition of the askST @ NLB talks.
Hosted by Straits Times tech editor Irene Tham, it was live-streamed on Friday on ST's Facebook page.
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E-payment veteran Jeffrey Goh replied with a resounding "no".
Mr Goh, head of Grablink, a unit of South-east Asia's ride-hailing giant Grab, said physical cash still remains very relevant as a payment option in the event of a network breakdown.
"We need to think about it from a business continuity (perspective). What if the network is down?" he said, speaking at an askST @ NLB session on Friday (April 30).
E-payment networks can break down for various reasons, including cyber-security attacks or lack of capacity planning, said Mr Goh.
He was speaking on the topic "Will cash go the way of the dodo in Singapore?" in the latest edition of the askST @ NLB talks.
Hosted by Straits Times tech editor Irene Tham, it was live-streamed on Friday on ST's Facebook page.
Read more
Why Relying on Cash is still so important
