From Payer’s point of view:
1. When the price of gold increases, payer can make use of the increase in value to make payments when buying products, e.g. food, clothing and electronic gadgets etc.
2. Payer does not need to pay a transaction fee when paying a merchant or business entity for products and services, and the exchange rate of gold vs currency, e.g. Gold/SGD, is at Spot Price.

From Payee’s point of view:
1. Payee pays a transaction fee of 1%. This is akin to purchasing gold at 1% above Spot Price, which is extremely attractive.

Result: A win-win situation for all parties

**At present, payments for goods and services can only be made between Business to Business or Private Individual to Business.