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One Request to Finextra editorail team to run Spell check before posting it.

It's going to be uphill climb for Square with ILC filling as WalMart and SoFi has it's own entry barriers, existing merchant base can be plus for the applicant...need to wait and watch.

Good collobrative approach for interopertable consumer payments system initative by Singapore Govt. It looks like India Stack and Bharat QR case.

@Agree Hector. Traditional banks have also started adopting FinTech startup models either on collobrative mode or backward integration.

I have seen bankers being keen to understand new models, new products which can augment it's existing landscape of IT applications to enable new revenue business.

DBS has setup good case for Digitalization of it's business.

Australia is not alone, it happens in India also. Few large banks ( can not name in public) in India goes loud for it's sheer size issue and ask to get away with regulatory compliance and reporting.

Defaulter list with big names is published recently by regulator is classic example about risk exposures not reported correctly by these banks resulting in NPA.

This activity seems to gel with global level action by Ingenico - In India it acquired CCAvenue - oldest largest PG player in India apart from EBS early in 2016.

Dash seems to be resolve several existing merchant payments issues. Good business case and business value of CryptoCurrency technology. Merchants may be more beneficeries as they accumulate Dash and use for B2B transactions and may not need so much of Fiat money.

Ofcourse, with ransomware attacks around crypto currency can poise new issues to be arrested.

Cash seems to become more safer as we advance on trajectory of high speed computing.

Kudos to MAS to start more level playing game in the country.

Disagree with Fidor 's view as till the last country on earth using Cash, we may not call it for final days for Cash.

Each culture, society and country has it's own transition to adopt new changes whether it's technology, finance or any other thing. You can imagine a scenario - Your Wallet can be hit with ransomware and to release it need to pay let us say 50% of value....new way of e-bugglers...do you feel it's safe to use digital wallet or Cash?

Note: Before answering imagine you are struck with this situation while paying for Taxi or Hotel away from Home !!