SINGAPORE - The advent of digital banks here has been heralded as a cutting-edge way to meet the banking needs of those underserved by the existing financial system, but not everyone is a winner in the new high-tech regime.
Take retired banker and entrepreneur Mike Tay, who was paying for groceries at FairPrice last week when he was told by the cashier that his OCBC/NTUC Plus! Visa card would soon be phased out. The card allows account holders to earn and redeem Linkpoints at FairPrice.
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