What is your favourite cashless form of payment now and why? - Seedly
 

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Asked by Kenneth Lou

Asked on 03 Oct 2018

What is your favourite cashless form of payment now and why?

With over 27 different payment providers riding on this whole SG QR initiative which is launching... and also with the old methods of NETS and VISA/MASTER/AMEX. Was wondering what are your top options and why you may be choosing that.

The list includes: PayNow, NETS, GrabPay, DBS PayLah, Singtel DASH, OCBC Pay AnyOne and AliPay.

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I am a huge advocate of all forms of cashless payments. Personally use Grabpay, Favepay, Visa/Mastercard through Apple Pay, Singtel Dash, Netspay. My preferred mode of cashless payment is always the one that offers the best cashback or rebate for that particular merchant:

For example,

-Grabpay offers new promotions every month(e.g Liho, Toast Box,etc)

-FavePay offers 5-10% cashback for subsequent purchases with several partnered merchants.

-Netspay offers $0.50 off on Wednesdays and Fridays at campus canteens

-Apple Pay provides the convenience for me to use my debit cards via a contactless method(used to have promos when Apple Pay just debuted)

During the DBS Beep Beep Kaching promotion that lasted about 6 months which unfortunately ended in Sep 2018, I tried to use contactless payment as much as possible to qualify for the minimum $400 in spending via contactless payments. This was done using NetsPay at NETS-only merchants and my DBS Visa Debit Card thru Apple Pay(or Paywave) at merchants that accept credit/debit cards. I was able to earn between $40-$50 cashback per month with a minimum spending of $400 and cashback capped at $50 with spending of $500 per month. This 10% cashback comes with a condition that no cash withdrawals can be made via ATM. During this period, I withdrew cash from an alternative bank account whenever I needed cash.

To answer the question, my favourite cashless form of payment is the one that rewards me the most at the time of transaction.

2 comments

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Leong Wen Fong
Leong Wen Fong

04 Oct 2018

Just curious though, does the convenience of cashless payment make you spend more? since it's so easy to spend
Ng Wei En
Ng Wei En

04 Oct 2018

Not really. I only think about the convenience of making cashless payment over other payment methods after I've made the decision to purchase. The convenience of cashless payment should not affect the purchase decision. This may not apply to all.
Junus Eu
Junus Eu
Top Contributor

Top Contributor (Nov)

Level 9. God of Wisdom
Answered on 21 May 2019

In terms of cashbacks/benefits - I like Fave. On top of that, they have some pretty sweet deals for food now and then, which brings cost per pax for a meal to $3/4.

0 comments

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Junel Seed
Junel Seed
Level 4. Prodigy
Updated on 07 Jun 2019

DBS paylah. because NUS gives discounts for that! :D

Otherwise, i honestly still go back to visa paywave since its just a simple tap and go action.

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Kenneth Lou
Kenneth Lou

03 Oct 2018

Hahaha good one. Yeah makes sense :)
HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Answered on 03 Oct 2018

Pay friends or share meals cost, I'll use Paynow cos using address book find contact number will be the easier and fastest way to pay/ receive $.

For all others, grabpay, beepay, favepay, when have deals, then will use those to pay. Afterall, it's savings that we're after.

0 comments

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San San
San San
Level 3. Wonderkid
Answered on 03 Oct 2018

Google pay and pay wave on DBS visa card to earn the 5% cash back. (was having fun with the 10% cashback until end Sep)

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Gabriel Lee
Gabriel Lee
Level 8. Wizard
Answered on 03 Oct 2018

I have PayNow, PayLah, Singtel Dash, Nets, Visa, Master, Grabpay & Favepay.

For personal transactions like paying my friends after sharing a meal, I'll use either PayLah or PayNow

For retail transactions, I'll use the one which gives cashback/rebate. Usually GrabPay or FavePay for food, then Master for 1% rebate

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Nicholas Chan
Nicholas Chan
Level 6. Master
Answered on 03 Oct 2018

Whatever gives the best benefits in rebates/miles!

0 comments

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Yong Kah Hwee
Yong Kah Hwee
Level 8. Wizard
Answered on 03 Oct 2018

I love the Paywave option haha. From the last, I'd choose Paylah because it is easy to use for me. No need to key in my username and password

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Ck Chai
Ck Chai
Level 6. Master
Updated on 09 Oct 2018

Usually used for the convenience and occasionally due to the super cheap deals limited to the particular payment type.

PayNow for easy payment transfer to friends.

Singtel DASH, use mainly in NTUC, 7-eleven, Food Republic

Masterpass for $2 off comfort cab

GrabPay for those special deals

PayWave to save the hassle

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