OCBC to add Google Pay to real-time payments in Singapore by January 2020

https://www.mobilepaymentstoday.com/news/ocbc-to-add-google-pay-to-real-time-payments-in-singapore-by-january-2020-2/
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OCBC to add Google Pay to real-time payments in Singapore by January 2020

OCBC Bank said it entered a partnership to bring the refreshed version of Google Pay to Singapore in January 2020, which will allow P2P PayNow fund transfers, which is currently undergoing beta testing. 

“The potential of Google Pay leveraging PayNow is tremendous and will provide our customers the benefit of secure, seamless and ubiquitous payments without having a wallet,” Ching Wei Hong, chief operating officer at OCBC Bank, said in a company release. “Both OCBC and Google Pay share the same customer-centric approach to enabling seamless digital payments — in an open loop payments ecosystem.”

OCBC Bank customers will be the first in the country to be able to link their accounts as a payment method on Google Pay. The Association of Banks in Singapore estimates that 28 million PayNow transactions worth $4.6 billion took place during the first half of 2019. 

Cover image: OCBC.


 


Topics: Mobile Banking, Money Transfer / P2P, Region: APAC

Companies: Google


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https://www.mobilepaymentstoday.com/news/ocbc-to-add-google-pay-to-real-time-payments-in-singapore-by-january-2020-2/