Month: November 2021

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How Schools and Tuition Centres Can Benefit From Prompt Collections with eGIRO

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According to the Household Expenditure Survey conducted by the Department of Statistics from October 2017 to September 2018, Singaporean households spent a whopping S$1.4 billion on private tuition. This is expected to have grown in recent years, with more parents opting for private tuition for their children amidst the acceleration towards home-based learning (HBL).  Meanwhile, …

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What is eGIRO? Understanding How eGIRO Makes Collections Easier Than Ever

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When it comes to collecting and making payments, most of us would be familiar with the direct debit system of GIRO.  Since 1984, GIRO has been widely used by businesses, public institutions and government bodies to collect payments – whether recurring or one-off – from their customers.  However, in recent years, GIRO has seen its …

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GIRO for Businesses: What Is It and Why We Need An Electronic Version

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When it comes to making recurring payments in Singapore, one of the most common ways to do so would be GIRO (General Interbank Recurring Order).  Such is its ubiquity, most Singaporeans would have had experience setting up a GIRO arrangement, whether it’s to pay for school fees, utility bills or Government dues.   But while GIRO …

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Eight Singapore banks to participate in new eGIRO launch

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Eight Singapore banks will participate in the initial launch of the Association of Banks in Singapore’s (ABS) eGIRO launch, an initiative to fully digitise the GIRO process. The eight banks who will be part of the initial phase will be the Bank of China, DBS Bank/POSB, The Hongkong and Shanghai Banking Corporation Limited, Industrial and …

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New paperless eGiro service to cut processing time from weeks to minutes

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SINGAPORE — Setting up and terminating recurring Giro payments may soon take just minutes through a new nationwide eGiro service launched on Monday (Nov 8), down from weeks under the present paper-based process. Starting Monday, the new eGiro digital service will be offered progressively by eight major banks including DBS, OCBC and UOB. Thirteen billing …

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Singapore sets aside an additional S$180m for AI research; launches two new AI programmes

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SINGAPORE will set aside an additional S$180 million on top of the S$500 million committed for artificial intelligence (AI) research, said Deputy Prime Minister, Heng Swee Keat at the Singapore Fintech Festival x Singapore Week of Innovation and Technology 2021. In an opening speech on Monday, (Nov 8), Heng announced that the S$180 million will …

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New eGiro service to cut application process from weeks to minutes

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SINGAPORE – A new nationwide eGiro service was launched on Monday (Nov 8) that cuts the time taken to process Giro applications from weeks to just minutes. Instead of filling in paper application forms and mailing them, the fully digital service allows users to set up their automatic monthly payment instructions online, the Association of …

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SGeBIZ to Offer EzyPayment eGIRO as Part of Singapore’s Smart Nation Initiative

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Singapore E-Business (SGeBIZ), a Fintech Company and a Major Payment Institution licensed under the Monetary Authority of Singapore, announced that it is one of the participants in the inaugural launch of Electronic GIRO (eGIRO). The launch of eGIRO by the Association of Banks in Singapore is part of the Smart Nation Initiative which aims to …

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SGeBIZ to offer EzyPayment eGIRO as part of Singapore’s smart nation initiative

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SINGAPORE, 8 Nov 2021 –  Singapore E-Business (SGeBIZ), a Fintech Company and a Major Payment Institution licensed under the Monetary Authority of Singapore, announced today that it is one of the participants in the inaugural launch of Electronic GIRO (eGIRO). The launch of eGIRO by the Association of Banks in Singapore is part of the Smart Nation …

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