OCBC Bank has launched its first stand-alone mobile payments app to enable its customers to make QR code cashless payments at close to 2,500 NETS terminals. With the new stand-alone OCBC Pay Anyone app, customers can simply scan QR codes at participating merchants' NETS terminals to pay for their purchases directly from their OCBC Bank account. Authentication of the transactions will be done through fingerprint recognition, completing their payments securely.
The network of acceptance points for QR code payments will expand to 50,000 NETS terminals island-wide by the end of the year.
Pranav Seth, OCBC Bank’s Head of E-Business, Business Transformation and Fintech and Innovation Group calls this initiative “a war on cash” and wants to deliver the same convenience to the consumers when they pay for regular shopping and meals using QR codes.
Read more on this Straits Times story here.