Singapore’s longest established bank- OCBC Bank enables Google’s peer-to-peer (P2P) funds transfer service in Singapore to adopt the ease of digital payment solutions this week.
Earlier available in India and the U.S., this new integration by search engine giant Google will help OCBC bank’s customers to transfer or receive payments directly from their bank accounts to or from anyone registered with e-payment system PayNow, via Google Pay application.
Developed by Google, Google Pay is a popular digital wallet platform in the U.S. and India.
Bank account holders without any credit cards will also be able to use Google Pay and make transactions to merchants across Singapore. Using this service, OCBC’s customers will be able to transfer a maximum of S$1,000 per day.
In a statement, Google’s Vice President of payments, Caesar Sengupta said that he was happy working with team in building and designing Google Pay for Singapore, and leveraging the national rails via PayNow. The bank first teamed up with Google in 2019 in order to integrate Google Pay services with PayNow, which already recorded more than 70 million transactions worth S$12.16 billion.
