From mid-June onwards, Singaporean shoppers of online marketplace Qoo10.sg and BusOnlineTicket.com could pay for their purchases with DBS PayLah!
DBS PayLah! is a mobile wallet app that allows customers to send money instantly to either an individual or group of recipients via mobile numbers.
According to DBS, mobile banking (mbanking) usage among Singaporeans is growing strongly, with the bank recently reporting that it has garnered 1 million mbanking users within five years while it took 10 years for it to have that many internet banking users. The bank added that more than half of its daily digital transactions are done via mobile devices.
DBS' partnerships with Qoo10.sg and BusOnlineTicket.com aim tap on this growing pool of mbanking customers by providing a convenient payment option."DBS PayLah! is a good alternative to customers without credit/debit cards. It is also for customers who transact frequently and in smaller amounts, in a highly secure manner," said a DBS spokesperson.
To make payment on those sites, customers will have to select DBS PayLah! as a payment method at the checkout page. They will then be redirected to login at the DBS PayLah! app to review the details of their payment and approve it. Thereafter, customers will be returned to the merchant site or app to complete their order.
"As the penetration of smartphones continues to deepen in Singapore, businesses are adopting a mobile-first mindset," said Gene Wong, Executive Director of Regional eBusiness, Consumer Banking Group, DBS Bank. "As such, merchants are keen to adopt DBS PayLah! to keep pace with their customers and stay relevant in the rapidly changing mobile landscape in Singapore".
"With the bulk of our customers being tech-savvy, having a payment method like DBS PayLah! can help to further boost our business and sales," said Winston W., CEO of BusOnlineTicket.com.
"Since we have more than 20,000 mobile transactions daily, partnering DBS PayLah! is an exciting step for us to enable a fully mobile experience that will ultimately drive better user experience and more transactions," said Hyun Wook Cho, Country Manager of Qoo10 Singapore.
As part of the launch of the partnership, DBS will be offering Qoo10.sg shoppers exclusive deals when they choose to pay with DBS PayLah!
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