SMU Associate Professor of Marketing Thomas Allard said the disappearance of the five-cent coin would have little impact on most consumers, noting Singapore’s continued shift towards cashless payments. He also anticipates that the financial impact of its disappearance will average out over time as costs are rounded both up and down. Additionally, Assoc Prof Allard said that cash is unlikely to become obsolete soon, as elderly customers, small hawker businesses, and some tourists still rely on it. While more businesses may choose to go fully cashless, a hybrid system will likely persist for some time, he added.
