Maybank Singapore launches P2P mobile payment service

Maybank Singapore announced the launch of Maybank Mobile Money, the first person-to-person (P2P) mobile payment service in Singapore that allows users to send money to anyone using a mobile number developed by mobile solutions company Tagit.

Maybank Singapore announced the launch of Maybank Mobile Money, the first person-to-person (P2P) mobile payment service in Singapore that allows users to send money to anyone using a mobile number developed by mobile solutions company Tagit.

With Maybank, online banking customers can pay anyone, any time and via any Singapore bank account by sending money directly to a Singapore-registered mobile number.

Commenting on the launch of the service, head of Maybank Singapore, Lim Kuo Siong said: "We recognise that mobile devices are an indispensable part of many Singaporean’s lives and that increasingly, people are conducting transactions in a remote manner, resulting in the need for alternatives to traditional payment methods such as cash or cheque.

"Maybank Mobile Money fills a gap in the P2P payments space with a platform that combines mobility, and personal data and transaction security," he also said.

The mobile app uses Tagit’s mobility solution platform "Mobeix" to enable P2P social payments, such as the splitting of bills, taxi fares, payment of fees to small businesses including private tutors and sports coaches, and payment for purchases conducted through social media.

The Maybank Mobile Money service is available as part of the Maybank Mobile Banking App, which was launched in 2012 on the Tagit Mobeix platform.

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