
Google Pay’s P2P Funds Transfer Service Now In S’pore – Currently Available To OCBC Users
OCBC customers can now transfer or receive payments directly from their bank accounts to or from anyone registered to PayNow using the Google Pay app.
OCBC customers can now transfer or receive payments directly from their bank accounts to or from anyone registered to PayNow using the Google Pay app.
TransferWise has become the first international money transfer service to let Singapore customers receive funds from international transfers via PayNow.
As SGQR combines multiple payment options into one label, businesses will no longer have to generate a separate QR code to let customers pay with PayNow.
Rapyd's new 'Singapore Platform' will let consumers and businesses to make payments electronically, convert cash to electronic payment methods, and so on.
Over 5 million PayNow transactions were made in July this year in Singapore. These transactions amount to over S$1 billion.
A bulk tender has been put in place to bring public agencies onboard the PayNow service.
Google's new payment app called, Google Pay, which is slated to be released in Singapore in the "coming weeks" works like Android Pay and DBS' Paynow combined in one.
Major local institutions are scrambling around to fight for a piece of the mobile payment market share, with the Chinese are coming in eyeing a piece of the pie too.
PayNow is a new peer-to-peer funds transfer service that will allow customers to send and receive funds by simply using their mobile number or NRIC.