News Coverage

DBS, OCBC Introduce Payment Via QR Codes

In February this year, NETS unveiled our strategy of digital transformation of payments to make cashless payments pervasive. To make NETS payments easier in the near future, we are collaborating with partners in the financial ecosystem to make cash-free payments simpler, faster and secured for everyone.

For consumers, our strategy extends cashless payment options to all market segments. One such option is to enable those whose phones do not have NFC to pay by scanning a QR code on terminals with the camera.

Now, in an industry first, DBS PayLah! users will soon be able to make QR code payments on NETS terminals at a number of merchants across various categories which include transport, retail, fashion and F&B. Some 2,000 NETS terminals will be enabled with this capability in the next two months and 10,000 by the end of the year.

Meanwhile, from next month onwards, OCBC account holders can also look forward to making cashless transactions via QR code at selected NETS merchants by using the OCBC Pay Anyone service. OCBC Pay Anyone customers will be able to scan a merchant's QR code and proceed to make payments of up to $1,000 a day, without the need for a card and PIN.

Read more about this Straits Times story here.