Taxi drivers are the best thermometers to gauge the acceptance of new forms of monies, especially those cashless and digital forms. As such, my quote in The Straits Times today about the DASH app by Standard Chartered Bank and Singtel circled around my payment experience with taxi drivers. Credit cards, NETS and the EZ Link cards payments are currently the cashless payments acceptable in taxis yet they have not reach 10% of cash transacted each day. From this, it is quite easy to say that DASH will die a quick death, despite the big flashy launch. The main reason for this is that the benefits of cash still outweighs that of using digital payments like DASH. For the taxi driver, it is still better to have cash in hand. With that cash, the driver is able to use it to pay some of the immediate daily expenditure. Payment by non-cash medium means the taxi driver will have to wait a few days for the money to go to the driver will have to spend time to go to the bank to withdraw cash. For the...
Everything Sales, Social and Tech