Singaporean Government Driving QR Code Payment Methods July 22, 2021 @ 7:26 pm By Tony Zerucha QR codes are helping Singapore continue on its road to a cashless society, data and analytics company GlobalData believes. Blessed with a strong payments infrastructure system, Singapore has both POS and QR code payment capability, and the latter is becoming a more trusted and preferred payment methods for consumers. In a country of 5.9 million, Singapore has 254,469 payment terminals now and is expected to reach 316,695 in 2024. “Singapore has 44 POS terminals per 1,000 individuals in 2021, among the highest in the Asia-Pacific region,” said Nikhil Reddy, banking and payments analyst at GlobalData. “The government is also playing its part to drive the acceptance of electronic payments among merchants in Singapore.”