SINGAPORE (Jan 20): DBS Bank has launched a QR code-based solution to help food and beverage (F&B) operators with the largely cash and paper-based payments and collections with their suppliers and vendors.

SG5, a wholesale distributor of beer and stout, which was one of the first to pilot the business-to-business (B2B) payments and collections solution, expects to save up to 3,300 manhours a month from this initiative.

“On average, our frontline staff spend around 3.5 hours every day traveling to different parts of the island to collect cash and cheque payments,” says Alvin Chua, CEO of SG5.

SG5 is the main distributor for Asia Pacific Breweries Singapore — whose main brands include Tiger Beer, Heineken, and Guinness — to about 5,600 F&B retailers including...(click on link for full story on theedgesingapore.com)