The OCBC Pay Anyone app enables customers to scan QR codes to make cashless e-payments directly from their OCBC Bank accounts to merchants.
Singapore's OCBC bank has launched a QR code cashless payments feature on its standalone mobile payment app.
Customers can now simply scan QR codes at participating merchants' NETS terminals or printed receipt using the OCBC Pay Anyone app to pay for their purchases. After authenticating the transaction securely with a fingerprint, the payment is immediately deducted from the customer's OCBC Bank account and paid to the merchant through NETS. This is unlike mobile wallets which require additional steps to top up the mobile wallet using a bank account.
The QR code cashless payments service is available on Apple iPhone devices running iOS8 and above, and Samsung devices running on Android 4.4 Kit Kat with the fingerprint recognition feature.
The service is currently offered to nearly 2,500 NETS terminals including those in Robinsons, Zara, Marks & Spencer, Gap, Paradise Classic restaurants, Caltex stations and Gardens by the Bay. OCBC Bank said it plans to expand the service to more than 50,000 NETS terminals islandwide by the end of the year.
Besides the QR code cashless payments, the OCBC Pay Anyone app allows customers to send money directly to any bank account in Singapore using just the recipient's mobile number, email address or Facebook account. The bank also enhanced the app last October to enable transactions using Apple's Siri voice command feature and directly within iMessage.
"OCBC Pay Anyone payment volumes have increased 10 times since May last year. Now, we want to bring the same convenience to paying for your regular shopping and meals using QR codes, so we decided to consolidate all of our OCBC Pay Anyone payment services into a standalone mobile app to bring greater convenience to our customers," said Pranav Seth, OCBC Bank's Head of E-Business, Business Transformation and Fintech and Innovation Group.
"I believe the pick-up of QR code cashless payments will be strong given the increasing acceptance rate of cashless payments in general over the years. We will continue to push the boundaries in mobile payments and move the needle in becoming a cashless society," he added.
To celebrate the launch of the new feature, all OCBC Bank customers can enjoy one S$10 rebate when they make their first QR code payment using the OCBC Pay Anyone app at Robinsons, Marks & Spencer, Paradise Classic restaurants or Caltex stations from now till 30 June 2017.
To do so, customers will need to download the OCBC Pay Anyone app, perform the one-time setup and make a purchase of any amount by scanning the QR code on a NETS terminal at participating merchants. The cash rebate will be credited to the customer's account in July.
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