Singaporean financial services providers OCBC Bank and DBS Bank announced separate agreements with Google to integrate their payments systems with Google Pay in the city state.
The deal with OCBC Bank is designed to pave the way to rollout of peer-to-peer payments direct from customer accounts using an upgraded version of Google Pay in January 2020. Currently the bank only offers compatibility to corporate customers.
In its statement, OCBC said it would be the first in the country to allow direct account-to-account transfers using the Google app.
The internet giant’s agreement with DBS Bank is expected to lead to integration of the bank’s PayLah! mobile wallet application with Google Pay. This, the two said, would enable cash transfer and payments at 80,000 merchants in the country.
DBS Bank’s business account, American Express and platinum debit card are already compatible with the service.
Google Pay compatibility is available through several rivals in Singapore, but currently it require the registration of a debit or credit card to make payments online or in store. These new deals offer direct payments without the need for card registration with Google.Subscribe to our daily newsletter Back