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UOB enters the mobile payments fray

Nurdianah Md Nur | Nov. 25, 2015
Users can use the UOB Mighty app for mobile banking purposes as well as to make reservations at restaurants.

UOB MIghty app
Screenshot of the UOB Mighty mobile app from UOB's website.

Singapore bank UOB has entered the mobile payments space with the launch of the UOB Mighty mobile app.

With UOB Mighty, consumers can link their near-field communication-enabled (NFC-enabled) Android smartphone to a UOB Visa credit or debit card before making contactless payments at retailers.

Aside from the usual banking functionalities offered in a mobile banking app, UOB Mighty will also enable users to receive recommendations and make reservations at restaurants.

The move to offer a mobile payments app is driven by the increasing use of smartphones and contactless payments by consumers, said Dennis Khoo, UOB Head of Personal Financial Services, Singapore. "We have seen contactless payments on UOB cards grow 67 percent year-on-year. This is why we are offering our customers the option of making contactless payments, with tokenised security, through their smartphones at the point of sale - whether it is in a supermarket, coffee shop or at a petrol station."

 

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