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Mobile Payments

Rapyd, OCBC Bank to launch instant mobile payments in Singapore

Monday 15 April 2019 | 03:17 PM CET

Rapyd has teamed up with OCBC Bank to enable real-time bank payments for Singapore consumers and online retailers.

The partnership leverages PayNow, Singapore’s national peer-to-peer funds transfer service, enabling OCBC Bank customers to make digital payments using the OCBC Pay Anyone app powered by Rapyd’s recently launched Checkout payments solution for ecommerce.

Due to this agreement, OCBC Bank customers will be provided with more payment options at online retailers’ checkouts, enabling them to directly access their bank account funds by choosing “Pay with OCBC Pay Anyone” within a retailer’s app. Payment details will then automatically populate in OCBC Pay Anyone, which the customer simply needs to review and confirm before authenticating the transaction biometrically. Customers will not need to input any additional information to make an online payment.

With Rapyd Checkout, retailers can receive payment immediately from OCBC Pay Anyone users, rather than waiting up to three days to receive money from card-based payments.

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