Transfer funds with just QR codes using OCBC’s Pay Anyone mobile app

SINGAPORE – Transferring funds has become even easier for OCBC Bank customers, who can send and receive money using just QR codes with its Pay Anyone mobile app, doing away with the need to share phone or NRIC numbers.

OCBC Bank, which married QR codes with PayNow’s infrastructure, said on Tuesday (July 18) the transfers are made directly from the payer’s account to the payee’s account. Unlike some mobile wallets, no additional steps are required to top up the wallet using a bank account, or transfer funds from a wallet to a bank account, it added.

Launched on July 10, PayNow is a peer-to-peer funds transfer service available to customers of seven participating banks in Singapore - Citibank, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United Overseas Bank.

PayNow-registered customers, through the OCBC Pay Anyone mobile app, can now create and send personalised QR codes to other OCBC Pay Anyone users via social networking apps or email when requesting payment, the bank said. Alternatively, the payer can instantly scan a QR code displayed on the payee’s phone to complete payment, it added. The daily transfer limit for payers is S$1,000.

QR code payments via the OCBC Pay Anyone app are completely seamless and frictionless as authentication is quick, using just the payee’s and payer’s fingerprints. There is no need to exchange mobile or NRIC numbers which is a boon for peer-to-peer e-commerce, where sellers and buyers may not want to exchange personal information but would meet up just to make the transaction, the bank said.

Mr Aditya Gupta, OCBC Bank’s Head of E-Business Singapore, said: “Cashless is the new normal… We believe the recent launch of PayNow is an inflection point for driving cashless payments behaviour 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.”