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Day: November 14, 2020
Aside from the explosion of rock music and big curls in the 80s, we were introduced to the cashless payment method called the General Interbank Recurring Order (GIRO). GIRO enabled its users to make convenient payments to billing organizations through their bank accounts. Since then, the digital cashless payment options have evolved dramatically. Nowadays, we can purchase items on online stores with a few taps of a button!
Let us get to know the nature and the examples of the e-wallets in Singapore.
HOW E-WALLETS WORK
Electronic wallets, e-wallets, digital wallets, or mobile wallets have taken over our lives in the previous months due to the effects of the global pandemic. E-wallets are virtual wallets, which are in collaboration with financial institutions (e.g., UOB or DBS), mobile service providers (e.g., SingTel), and international companies (e.g., Apple, Google, and Samsung). Many people have turned to cashless transactions to avoid carrying money or to avoid trips to the ATM.
E-wallets allow its users to store credit cards, debit cards, and loyalty cards into your device. Payments are made hassle-free as long as they are connected to your bank accounts or cards. Some e-wallets let you send and receive money through paperless transactions.
THINGS TO CONSIDER BEFORE USING AN E-WALLET
1. Which e-wallet do you want to get?
2. Does your preferred e-wallet have a maximum value that can be stored inside?
3. What is the expiry date for the money inside your potential e-wallet?
4. How much is the maximum value you can transfer out from an e-wallet per transaction?
5. Are there fees involved in top-up and other services?
POPULAR E-WALLETS IN SINGAPORE
1. Apple Pay
Apple Pay handles secure payment transactions between contactless terminals and Apple iOS devices. It can be used in 7-Eleven, Breadtalk, Giant, FairPrice, Uniqlo, and so much more.
2. SingTel Dash
Dash allows you to top-up your Singtel prepaid account or other Dash accounts to pay partner merchants in Singapore, Thailand, and Visa payWave partner merchants worldwide. You may pay online purchases through the Dash Visa Virtual Account and transfer funds within Singapore and to India, Indonesia, Philippines, China, Myanmar, and Bangladesh.
As the name suggests, GrabPay can be used to pay for Grab rides, GrabFood deliveries, and selected merchants with the GrabPay QR code. You can also use it with the GrabPay Card where MasterCard is accepted.
FavePay is a quick and easy way to pay your favorite merchants and get instant cashback. FavePay accepts debit or credit cards (e.g., Visa, MasterCard, and American Express), GrabPay, Paypal, Boost Payment, and Air Asia Big Points. You can use the FavePay for selected merchants with the FavePay QR code.
AliPay is a global payment platform with over 400 million users around the world. It is backed by the Chinese tech giant Alibaba and uses advanced encryption technology to ensure personal information and online payments are secured. It can be used to cover payments to ComfortDelGro and Prime taxis, Resorts World Sentosa, Metro, Singapore Zoo, Universal Studios, and more.
6. Google Pay
Google Pay is an online payment system developed by Google. It enables its users to pay for transactions with Android devices in-store and on supported websites. You can use it in-store at more than 80,000 checkout counters such as Cheers, Cold Storage, 7-Eleven, NTUC, McDonald’s, and Uniqlo.
7. DBS PayLah!
DBS PayLah! is a personal virtual wallet, which allows you to perform transactions such as Scan and Pay (NETS), funds transfer, QR Code payments, online purchases, and bill payments on-the-go. Discover its functions through the DBS PayLah! app.
NETSPay enables you to register your POSB/DBS ATM Card digitally. Once you have stored your cards, you may leave it at home and start paying with your smartphone. You can use this digital wallet to pay selected merchants in Singapore and Alipay Connect-enabled merchants in Japan.
9. EZ-Link Wallet
EZ-Link Wallet is personal mobile wallet within the EZ-Link app. You can use it to make payments conveniently at retail outlets domestically and overseas by scanning a QR Code or at an Alipay Connect-enabled merchant. Moreover, you can earn EZ-Link Rewards points for your transactions.
Use these information to make thoughtful decisions when it comes to your e-wallet and online payment transactions.
The post 9 E-Wallets In Singapore That Let You Buy From Shops Hassle-Free appeared first on MoneyDigest.sg.
Four Star Mattress is celebrating the opening of its new Pop-up Store at Thomson Plaza starts this Friday, 13 Nov 2020.
Enjoy up to 75% storewide discount for all mattresses & bed frames. Limited time offer!
In addition, receive a special gift from us with every purchase at our new store opening special.
- FREE A pair of Four Star Chiro Contour Pillow (worth $700) with purchased of new Detense ArcticSilk Mattress.
- FREE A Novita air purifier (worth $500) with a purchase of $2500 & above.
- FREE Cash rebate vouchers with every purchase.
- FREE A four Star mattress protector with every purchase (worth $80).
- All mattresses up to 15 Year Warranty!
- FREE Delivery!
- 0% Interest Instalment Plan up to 12* Months!
- Price inclusive GST!
- FREE Taxi claim upon checkout!
See you soon!
301 Upper Thomson Rd, #03-47 (in front of FairPrice Finest)
Mon – Thurs 11:30am – 8:30pm
Fri, Sat, Sun and PH 11:00am – 9:30pm
The post Four Star Mattress’s Pop-up Store at Thomson Plaza Has Up To 75% Off Mattresses & Bed Frames appeared first on MoneyDigest.sg.
Day trading is a well-known type of trading where the investor buys and sells the financial instruments within a time frame of a day but aims at making a profit using the small price movements. But, that’s possible with the best broker, after you learn about online investments.
It is a short-term trading style. However, it is not like scalping because you only take one trade each day and then close it at the end of the day.
The traders also like to pick a side when the day begins, act on the bias, and finish the day getting profits or losses. Moreover, day traders will not hold their trades overnight. It, therefore, suits forex traders because they have enough time to analyze, monitor, and execute a trade.
For those who think scalping is fast and swing trade is slow, then they should embrace day trading.
Types of day trading
In day trading, the investors try to maximize intraday profits, and to do it, he or she will use one or multiple types of day trading strategies.
Here are the strategies to succeed with day trading:
- News Trading
News Trading strategy is a traditional predominantly trading strategy focusing on the short term. The strategy works perfectly for day trades.
Those using this news trading strategy will pay less attention to technical and chart analysis. So, they will wait until the information has been released and assume the information drives prices in either direction. For such information, it can be a report on economic data such as interest rates, unemployment, or inflation. Further, it could also be random presidential tweets or breaking news.
Day traders, for them to do well with this strategy, they should have a better understanding of markets they want to trade.
Besides, the investor should develop insights on how to receive the news depending on the market in terms of how the price will be affected. So, traders should get alerts from different news sources to let them know the right time to enter the market.
On the other hand, the disadvantage of this strategy is because of events causing substantial movements of prices but they are rare.
- Breakout Trading
Breakout trading strategy is where the trader looks at the range of pairs made during certain hours during the day. Knowing that you can place a trade on either side but hope for a breakout.
The strategy is effective if the pair is at the right range which indicates that the pair will make a big move. You aim at setting yourself up and after the move takes place, you can catch the wave!
With breakout trading, you also have to determine the range where resistance and support hold strongly. After doing it, set entry points either below or above the breakout levels.
You have to target a similar amount of pips that will make up the determined range.
- Range Trading
Range trading is also known as channel trading. It is a type of day trading strategy where you should first understand the recent price action. While using this strategy, you should inspect chart patterns and identify typical lows and highs on the day. Also, keep a close eye on things that differentiate the points.
If the price falls off a resistance level or rising off above the support level, you should opt to buy or sell depending on market direction. And that’s what it refers to as “trading in a range” because every time the price hits high, it will fall back to the low or vice versa.
So, if you choose this strategy, you should buy it during the low price and choose to sell when the price is high.
Many range traders use stop losses to limit orders for them to keep trading in line by perceiving what you expect to happen to the market. Therefore, a stop-loss order would be the point at which the position automatically closes out especially when the price of the instrument drops below your entry point.
However, range trading needs enough volatility because that helps keeps the price moving but not much volatile to break the price out of the range.
- Countertrend Trading
This is another essential type of day trade strategy. However, after you determine the overall trend, look for those trades that move in the opposite direction.
In this strategy, you should focus on getting early as the trend reverses. It looks riskier but you can reap huge payoffs.
Since the strategy is about “counter-trend” so you should look at the opposite direction for a shorter timeframe like a 15-minute chart. For those traders who want to use this strategy, they should quickly spot where the trend will end and help them open an optimal entry point position.
Moreover, for this trend, it fights against the trend and sometimes works against a trader. It is risky to go against the opposite of the trend, but if you time correctly, you will reap huge rewards. The strategy favors those aware of recent price action and knows the right time to be against it.
- Trend Trading
While considering the trend trading type, you have to look at an extended time frame chart. It helps you determine the overall trend.
After you establish an overall trend, then get a small time frame chart. With that, you can consider many available trading opportunities depending on the direction of trade.
If you use shorter time frame chart indicators, you will have an idea of the moment you should time your entries. The first thing is to determine the overall trend where you have to look at a long time frame. So, the indicators can help you when confirming the trend.
After determining the overall trend, then move to a shorter timeframe but look for entries having the same direction.
The Bottom Line
Recently, day trading has become a controversial phenomenon, but it’s a viable way for you to earn a profit. However, both individual and institution day traders play crucial roles in the marketplace. They are responsible to keep the market’s liquidity and efficiency.
Day trading is a popular form of online trading for inexperienced traders. It therefore should be left to people with skills and resources who want to succeed.