Amazon has introduced its Pay It Forward report and campaign aimed at closing the remaining gaps in digital payment inclusivity in Singapore.
This effort comes as part of Amazon’s contribution to national initiatives aimed at bridging digital divides, such as the Infocomm Media Development Authority’s (IMDA) Digital Skills for Life framework and the broader Digital for Life movement.
As Singapore marks the 6th anniversary of introducing the world’s first Unified Payment QR Code in September 2018, Amazon has launched its Pay It Forward report alongside a comprehensive campaign aimed at promoting digital payment inclusivity across all demographics.
Despite 78% of seniors adopting e-payments by 2022, a significant digital divide persists, particularly impacting older adults and lower-income groups.
This divide poses concerns of social exclusion, economic disadvantages, and susceptibility to scams.
The Pay It Forward report, grounded in a comprehensive survey of over 500 participants and in-depth interviews, provides an extensive examination of the digital payment landscape in Singapore.
It highlights that while local payment methods have expanded accessibility, gaps in digital savviness shape how different age groups approach online transactions.
For example, younger users (aged 16-24) often prioritise speed and convenience, with 79% indicating convenience as a key factor influencing their choice of digital payment methods.
However, this comfort can lead to greater exposure to security risks.
The report also reveals that for older generations, security and trust are paramount.
Notably, almost two-thirds of individuals who do not use digital payments are aged 55 and above, underscoring the need for targeted educational efforts to support these users.
Additionally, the report highlights a gap in user loyalty to payment platforms, driven largely by financial incentives such as cashback and rewards.
This indicates that while the adoption of digital payments is extensive, consistent use depends on additional value offerings, suggesting areas for enhanced education and awareness.
Amazon’s Pay It Forward campaign features a public microsite showcasing report highlights and an educational video series aimed at addressing the challenges faced by different demographics in digital payment usage.
The campaign also includes community workshops focused on teaching best practices for safe digital transactions, promoting trust and familiarity.
These workshops will be part of the upcoming Digital for Life Festival organised by IMDA at VivoCity Central Court on 9-10 November, underscoring ongoing efforts to boost financial inclusivity and digital literacy in Singapore.
Featured image credit: Edited from Freepik
