2 banks tie up with Google Pay for new service
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The tie-up cuts the hassle for customers in accessing funds in their bank accounts.
PHOTO: ST FILE
No credit card? No problem for DBS and OCBC account holders in making instant payments to around 80,000 merchants here next year by using Google Pay.
A tie-up, which involves integrating Google Pay with the funds transfer service PayNow, will allow them to do so.
Announced at the Singapore FinTech Festival yesterday, the service will be tested in trials early next year and could be rolled out fully later in the year.
It works by linking a user's bank account to the Google Pay mobile app so payment will be directly debited without needing a card.
Google Pay users here previously could only use the tech giant's e-wallet to pay merchants with their credit cards.
OCBC chief operating officer Ching Wei Hong said the tie-up cuts the hassle for customers in accessing funds in their bank accounts.
