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Straits Times
2 hours ago
- Business
- Straits Times
June school holidays 2025: Enter the world of e-payments
Young people now have access to more digital payment options. How does this influence their ability to manage finances? PHOTO: ST SINGAPORE – Students, even those in primary school, can now pay for meals or books with just a tap of their ez-link cards, contactless payment watches or a debit card. In Episode 4 of nine2twelve, kids can learn about digital payments and how to spend smartly and within their means. Watch the video at then come back and attempt this activity. Activity Imagine you are ordering a bowl of noodle soup from the canteen vendor and you are about to pay using your contactless payment card or watch. Arrange the sequence below to find out how e-payments get processed. A. When you tap your card or watch on the payment machine, it sends a special signal using something called Near Field Communication (NFC). This lets the machine and your watch or card 'talk' to each other wirelessly. B. Your bank quickly checks to make sure you have enough money or credit, and that nothing seems suspicious. If everything looks good, your bank sends back a message that says the payment is approved. C. Next, the payment machine sends your payment information to the shop's bank. The shop's bank then sends it to the card network, like Visa or Mastercard. The card network figures out which bank issued your card, and asks that bank if the transaction is able to go through. D. Your device does not transmit your card number. Instead, it sends a special code to the payment machine. This code is used only once. If you are using a mobile phone or watch, it might also ask for your PIN, face ID or fingerprint to make sure it is really you, depending on the amount, region or device. E. That message travels all the way from your bank, through the card network, back to the shop's bank and finally to the payment machine. All of this happens in just a few seconds. Answer: A, D, C, B, E Get the ST Smart Parenting newsletter for expert advice. Visit the microsite for more
The Star
a day ago
- The Star
Motorists can expect three-hour wait to clear customs at Singapore's Woodlands Checkpoint: ICA
With the June school holidays coming to a close on June 29, traffic is expected to be heavy at both land checkpoints. - Photo: ST SINGAPORE: Those travelling to Malaysia on Saturday (June 21) can expect up to a three-hour wait to clear customs at Woodlands Checkpoint, said the Immigration and Checkpoints Authority (ICA). In a Facebook post at around 8.15am, ICA said that there is 'very heavy departure traffic' at the checkpoint due to tailback from Malaysia, with traffic congestion extending beyond Exit 10A of the BKE. ICA warned motorists that they can expect a queueing time of three hours or longer. With the June school holidays coming to a close on June 29, traffic is expected to be heavy at both land checkpoints, especially on the weekends. Earlier this month, ICA reminded motorists about proper road etiquette, warning those caught jumping queues by its officers at the Woodlands and Tuas checkpoints that they will have to make a U-turn and rejoin the queue. They could also be blacklisted and face further disciplinary action from the authorities. - The Straits Times/ANN
The Star
3 days ago
- The Star
Jail for Vietnamese woman who helped sister to obtain bank accounts, ATM cards for use in scams
Despite suspecting that the accounts would likely be used for illicit activities from the onset, Nguyen Lan Dung agreed to the arrangement. - Photo: ST SINGAPORE: Lured by the promise of money, a woman decided to take up her sister's offer to obtain bank accounts and cards in exchange for payment. Despite suspecting that the accounts would likely be used for illicit activities from the onset, Nguyen Lan Dung, 24, agreed to the arrangement. On Thursday (June 19), the Vietnamese national was sentenced to 10 months' jail after pleading guilty to three charges under the Computer Misuse Act, and one under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. Eleven charges of a similar nature were taken into consideration during the sentencing. Dung was also fined S$1,700. Investigations revealed that after Dung agreed to the arrangement, she reached out to a man to say she knew people who would pay him for control of his bank account. Court documents do not reveal how investigations into Dung and her sister started. Sometime in March 2024, the man agreed and gave up his bank details and the corresponding physical ATM card. Dung handed over the card and login details to her sister and her sister's boyfriend, and was paid $700. Court documents stated that the man's bank account and ATM card were later found to be linked to extortion scams, and were used to transact a flow of scam proceeds. Under the arrangement, Dung would also act as the point of contact for other Vietnamese nationals who were willing to sell their bank accounts. She would earn between $500 and $700 for each bank account she helped to procure. Sometime in March 2024, she managed to obtain two different bank accounts from two Vietnamese nationals. Court documents do not reveal how Dung had managed to contact the two. Around the same period, Dung, along with her sister and her sister's boyfriend, arranged to sell 11 bank accounts to unknown persons. Dung's sister, Nguyen Huong Giang, remains on the run from Singapore. - The Straits Times/ANN
The Star
3 days ago
- Business
- The Star
Standard Chartered cuts jobs in Singapore; moves them to India: Finance jobs portal
The bank had previously cut about 100 jobs across its Singapore, London and Hong Kong hubs in November 2024. - ST SINGAPORE: Dozens of staff at Standard Chartered have reportedly been laid off in Singapore in a fresh round of job cuts by the London-based bank. The move affected about 80 Singapore-based employees – understood to be from the bank's technology and operations teams – with their jobs being offshored to India, according to finance jobs portal efinancialcareers. In a website article published on June 12, the global financial services company noted that 'sources at the bank in Singapore said the 80 jobs currently being offshored to India are likely only the start'. 'Singapore remains a critical centre for their global businesses and technology and operations teams,' a StanChart spokesman said when contacted by ST, without providing details such as whether the job cuts are part of the bank's plan to save costs in a bid to return capital to shareholders. 'We continually look to enhance our operations to serve our clients better. As a global firm, we maintain a dynamic blend of world-class local talent in our key markets, including Singapore, and leverage the multi-disciplinary expertise housed in our global business service hubs,' he added. The bank, which makes most of its money in Asia and the Middle East, is in the midst of a corporate cost-saving programme called 'Fit for Growth' as it aims to return US$1.5 billion (S$2 billion) more to shareholders. It reported fourth-quarter earnings that beat estimates in February 2025. The bank had previously cut about 100 jobs across its Singapore, London and Hong Kong hubs in November 2024. This was part of the Asia-focused lender's plan to cut costs by more than US$1 billion (S$1.35 billion) through 2024. StanChart's head office in Singapore is at Marina Bay Financial Centre, with a network of 11 branches and over 30 ATMs islandwide. A check on StanChart's job openings on its website showed that the bank is still hiring for over 60 Singapore-based roles in areas ranging from operations to marketing and business development. Tech positions, such as infrastructure engineers and those related to digital products, are still open. The job cuts follow other global banks that have made reductions to their workforce, including DBS, which had communicated its intention to reduce its contract and temporary staff by around 4,000 over the next three years as artificial intelligence increasingly takes on roles carried out by humans. Meanwhile, HSBC had also announced a restructuring process in October 2024 that was expected to lead to job cuts, mainly involving those in senior roles to reduce duplication. HSBC Singapore was not able to comment on the number and type of senior management roles it has here, then. The financial sector's contribution to Singapore's gross domestic product has grown from 12.5 per cent in 2018 to 13.8 per cent in 2024, with a workforce of close to 200,000 here. - The Straits Times/ANN
The Star
11-06-2025
- The Star
Man arrested for allegedly shoplifting twice in Singapore's Changi Airport transit area
Shilla Cosmetics and Perfumes in Terminal 1 was hit by both instances of shop theft on May 27. - Photo: ST SINGAPORE: A 45-year-old Australian man was arrested after he allegedly shoplifted twice in the transit area of Changi Airport Terminal 1 on May 27. In a statement on Wednesday (June 11), the police said they were alerted to a case of shop theft at a duty-free Shilla Cosmetics and Perfumes store at about 11.30pm. Investigations showed that the man allegedly took a bottle of facial product valued at S$466 from a display shelf and left the store without paying. Officers from the Airport Police Division identified the man and arrested him on June 1. The police added that the man is believed to be involved in another case of shop theft on May 27, also at a Shilla Cosmetics and Perfumes store. In this incident, he allegedly took a $193 bottle of perfume from the store and left without paying. He is expected to be charged in court on June 12. If convicted, he could be jailed for up to seven years, fined, or both. - The Straits Times/ANN
