OCBC Bank debuts QR code fund transfers

OCBC Bank has introduced QR code fund transfers with its Pay Anyone mobile app removing the need to share phone or NRIC numbers.

OCBC Bank debuts QR code fund transfers

Customers who are registered with PayNow can create and send personalized QR codes through OCBC Pay Anyone mobile app via social networking apps or email when payment is requested.

The payer can immediately scan the QR code which can be seen on the payee’s phone and complete the transfer. The bank has set transfer limit of $1,000 per day.

The bank said that it newly launched feature will give users seamless and frictionless experience as it will facilitate authentication using the payee’s and payer’s fingerprints.

OCBC Bank head of E-Business Aditya Gupta said: “Cashless is the new normal. We believe the recent launch of PayNow is an inflection point for driving cashless payments behavior in Singapore, and we have integrated that with OCBC Pay Anyone to offer our customers the additional convenience of QR code peer-to-peer payments. We will continue to push the boundaries on mobile payments and move the needle in making Singapore a cashless society.”