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SINGAPORE – DBS PayLah and Standard Chartered customers can now use Google Pay to transfer funds directly from their bank accounts to anyone registered with PayNow.
The two banks are the latest to offer this payment option after OCBC introduced it in April.
By integrating Google Pay with the PayNow funds transfer service, DBS PayLah, OCBC and Standard Chartered customers can link their bank accounts to the Google Pay mobile app so that payments are charged directly without the need for a card.
Launched in 2017, PayNow allows customers of nine participating banks to send and receive money from their bank accounts using their mobile or NRIC numbers.
Google Pay users can also pay merchants by scanning QR codes (SGQR or PayNow QR) or entering the Unique Entity Number (UEN). Recipients don’t need to be on Google Pay.
Google Pay has a daily transfer limit of $ 2,000, but partner banks can set their own stricter limits. For example, Standard Chartered clients will have a daily transfer limit of $ 1,000, while DBS PayLah clients will be restricted by the wallet limit on their accounts. OCBC customers can make daily transfers of up to $ 2,000 within the app.
Customers of banks other than DBS, OCBC and Standard Chartered can also use Google Pay to transfer funds by linking their bank accounts through DBS PayLah.
Previously, Google Pay users, such as those using Apple Pay and Samsung Pay, could pay merchants only with their credit cards. Apple Pay and Samsung Pay are not compatible with PayNow.
While GrabPay users can reload their e-wallet through PayNow instead of a card, the process requires users to manually upload a QR code to their bank’s mobile app.
Patrick Teo, Director of Engineering for Google Pay, said: “We are excited to launch a new Google Pay experience that builds on Singapore’s strong payments infrastructure: PayNow and SGQR. Designed and built for Singaporeans, the new Google Pay enables a consolidated payment solution that is simple, secure and useful. ” He added that Google is working to bring other banks to Google Pay.
Google Pay (available for Android and iOS devices) allows users to pay for their purchases in physical stores by touching their contactless reader smartphones.
They can also use Google Pay for MRT and bus travel, as well as for online purchases on digital wallet-compatible websites or apps.
Singapore is the second market after India to launch the revamped Google Pay app.
Since its introduction earlier this year, the tech giant has been rolling out features to serve local users.
In April, Google Pay added a food ordering feature to allow users to order take out or home delivery at local food and beverage outlets. Over 800 restaurants are now listed under the Order Food option.
Users can now also search for movies and reserve seats at Golden Village and Shaw Theaters through the app.
The article has been edited for clarity.
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