Amazon has introduced the Pay It Forward report and campaign aimed at filling remaining gaps in digital payments inclusivity in Singapore.
This initiative will be carried out as part of AmazonContributing to national initiatives aimed at closing the digital divide, such as the Infocomm Media Development Authority (IMDA)’s Digital Skills for Life framework and the broader Digital for Life movement.
Singapore celebrates six years since introducing the world’s first unified payment QR code in September 2018, and Amazon is launching alongside a comprehensive campaign aimed at promoting inclusivity in digital payments for all demographics. Launched Pay It Forward report.
Despite 78% of older adults adopting electronic payments by 2022, a significant digital divide remains, particularly affecting older adults and low-income groups.
This disparity raises concerns about social exclusion, economic disadvantage and vulnerability to fraud.
The Pay It Forward report is based on a comprehensive survey and in-depth interviews with over 500 participants, providing an extensive look at the digital payments landscape in Singapore.
The report highlights that while the availability of local payment methods is expanding, digital knowledge gaps are shaping how different age groups approach online transactions. Masu.
For example, younger users (ages 16-24) often prioritize speed and convenience, with 79% citing convenience as an important factor influencing their choice of digital payment method.
However, this comfort is likely to expose you to security risks.
The report also reveals that security and trust are paramount to older generations.
Notably, nearly two-thirds of individuals who do not use digital payments are over the age of 55, highlighting the need for targeted educational efforts to support these users.
Additionally, the report highlights the gap in user loyalty to payment platforms, primarily driven by financial incentives such as cashbacks and rewards.
This shows that while the adoption of digital payments is widespread, consistent use relies on value-added delivery, suggesting areas for increased education and awareness.
Amazon’s Pay It Forward campaign features: public microsite Report highlights and educational video series It aims to address the challenges faced by different demographics in the use of digital payments.
The campaign also includes community workshops focused on teaching best practices for secure digital transactions and promoting trust and familiarity.
These workshops will be part of our upcoming events Digital for Life Festival Hosted by IMDA at VivoCity Central Court on 9-10 November, it highlighted its continued efforts to increase financial inclusion and digital literacy in Singapore.
Featured image credit: Edited from freepic
