Isn't just one 'standard' QR code system enough?

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) announced a new QR code standard for Singapore, SGQR. Why are there two "standards"?  Nets' QR code already satisfies MAS and IMDA's aim to allow merchants to display just one QR code for scanning by any e-wallet for fuss-free fund transfers. It can even integrate with overseas payment services and international QR code payment schemes. Did the industry task force assigned to look into the unified payment system feel that they had to show something more substantial for their efforts?