Tan Min-Liang Will Submit E-Payment Proposal To PM Lee In 2 Weeks
Razer CEO Tan Min-Liang has answered Prime Minister Lee Hsien Loong’s call for a unified e-payment system to rival China’s Alipay.
PM Lee had mentioned in his National Day Rally speech that Singapore needed to eventually go cashless, in order to stay competitive with countries like China.
Mr Lee tweeted a key point that while Singapore does have e-payment systems, there are too many schemes and systems which were “inconvenient for consumers and costly for businesses”
Given the complexity of creating and implementing a cashless system, PM Lee probably wasn’t expecting a viable solution to be presented, but that was what he got when Mr Tan replied to his tweet.
The ex-lawyer told PM Lee that he could implement a cashless system in Singapore within 18 months. This means we can expect a new e-payment system to rival NETS, EZ-Link, MasterCard, Visa, American Express, PayPal, payLah!, Pay Anyone, PayNow……… (Writer gives up at this point.)
Anyway, we will see the new system by Feb 2019, which really isn’t that far away. Expecially when you consider that EZ-Link took 26 months to transition from pilot testing to official launch.
It seems like Mr Tan is taking PM Lee’s challenge seriously.
On his own Twitter account, Mr Tan has shared that he is currently working on a proposal for PM Lee with the intention of submitting it within “14 days or less”.
This means we can expect the proposal to land on PM Lee’s lap on 7 Sept.
The NUS alumnus has even begun recruiting key players in the e-payment industry. He reported that some of the top experts are “already onboard” the project.
Talk about efficiency.
Razer has experience in e-payment
Earlier in March this year, Razer launched its own E-payment system zGold.
The system has boosted the company so much, Razer is filing for an initial public offering in Hong Kong with a valuation between S$ 4.1 billion to S$ 6.8 billion.
Greed The Motivation?
Money is not Mr Tan’s motivation for offering his services. Currently residing in the US, Razer’s CEO is relishing the chance to give back to his country of birth.
Despite becoming one of the top gaming companies in the world, Mr Tan has never forgotten his Singaporean roots, as The Straits Times reports.
Mr Tan had said that “as a company with Singapore roots, we are ready to serve the country’s needs and do our part to make it the most advanced Smart Nation in the world.”
Considered one of the Top 10 Most Influential Leaders in Tech by Juniper Research in 2015, will Mr Tan Min-Liang be Singapore’s answer to Jack Ma?
Well, we certainly hope so.