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New DBS mobile app allows users to transfer up to $999 instantly

Published on May 29, 2014 1:50 PM

SINGAPORE - DBS launched a new mobile payment solution on Thursday that allows users to transfer up to $999 a day to fellow DBS account users, by just keying in their phone numbers.

Called DBS PayLah!, the mobile app requires every user to register an account with a user name and password. The user also needs to provide his account details for the PayLah! account to be linked to his phone number. During the registration process, users will be asked to key in a one-time password sent to their phones or a number code on their banking token to ensure security.

Users then top up their PayLah! accounts with up to $999 drawn from their bank accounts. Here, they are required to key in a code from their tokens to ensure security. Once they have topped up their accounts they can start sending money to other recipients with PayLah! accounts, simply by keying in the recipient's phone number.

For each subsequent log-in to their PayLah! app, they would need to key in their user name and password. They would also need to key in a SMS one-time pin for each subsequent top up their accounts.

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