- DBS Bank and Citibank digital banking and e-payments services were down for hours this month, following an issue at a data centre used by both banks
- Some consumers were caught off guard without cash or alternative means to pay, while affected businesses relied on an honour system and trusted their customers to pay later
- Despite the risk of disruptions in e-payment systems, some businesses maintain that the benefits of going cashless far outweigh the cons
- Experts said while more can be done to prevent outages, there are no foolproof methods to ensure they won’t happen
- Both businesses and consumers can adapt by adopting more payment modes to be more resilient and agile, they added
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