{"id":302655,"date":"2025-11-20T06:17:09","date_gmt":"2025-11-20T06:17:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/302655\/"},"modified":"2025-11-20T06:17:09","modified_gmt":"2025-11-20T06:17:09","slug":"ocbc-app-adds-8-digital-wallets-from-across-south-east-asia","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/302655\/","title":{"rendered":"OCBC app adds 8 digital wallets from across South-east Asia"},"content":{"rendered":"<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">[SINGAPORE] Local bank OCBC on Thursday (Nov 20) said that it has added eight digital wallets from South-east Asia, enabling customers in Singapore to transfer money directly from their accounts to these wallets via the bank\u2019s app. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The new wallets are: Coins, GCash and PayaMaya from the Philippines; GoPay, Ovo and LinkAja from Indonesia; Momo from Vietnam; and Touch \u2018n Go from Malaysia. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">This venture builds on the integration of China\u2019s WeChat Pay and Alipay last year, making the OCBC app South-east Asia\u2019s most connected for wallet payments, with 10 wallets in total. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">It is also part of OCBC\u2019s ongoing strategic partnership with Visa, which began in 2024 to enhance cross-border payment capabilities. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The 10 wallets collectively represent a total user base of up to 2.7 billion. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The feature is expected to significantly benefit Singapore\u2019s foreign workforce by simplifying remittances and helping them stay connected with loved ones, said the bank. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">\u201cWith OCBC\u2019s app, workers or their employers can send money directly to their home country\u2019s wallets, removing the need for recipients to have a bank account or visit a physical location,\u201d it added. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">OCBC has processed over S$60 million in transfers since launching the service with Chinese wallets a year prior \u2013 driving a four-time increase in cross-border transfers to China, which is a key market for the bank. <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Sunny Quek, head of global consumer financial services at OCBC, said that the venture is \u201cremoving friction\u201d from cross-border payments and making remittances faster, cheaper and more inclusive.<\/p>\n<p class=\"mb-6 border-b border-gray-250 pb-4 font-poppins text-4xs font-medium tracking-widest text-gray-515\">SEE ALSO<\/p>\n<p><a class=\"block h-full w-full\" href=\"https:\/\/www.businesstimes.com.sg\/singapore\/tech-in-asia\/sgqr-reshapes-singapores-payment-scene-who-wins?ref=article-see-also\" data-discover=\"true\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"relative z-10 h-full w-full object-cover\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/11\/97cd47f47f29dc9891f15cda6a85f09ef43da20f79fad1b760f5911c223901cd\" alt=\"Nets has a domestic merchant network of over 130,000 acceptance points, of which 96,000 can process QR transactions.\" width=\"1600\" height=\"1146\"\/><\/a><a class=\"block h-full w-full\" href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/banking-finance\/ocbc-aims-quadruple-number-cross-border-qr-payments-2024?ref=article-see-also\" data-discover=\"true\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"relative z-10 h-full w-full object-cover\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2025\/11\/65cff00f8b1bf725c5cae64738f0f4d6662e84254f6bfe54431604e5e2c775f2\" alt=\"OCBC says that it expects to facilitate 250,000 cross-border QR payments in 2024, four times the number logged last year.\" width=\"6000\" height=\"4326\"\/><\/a><\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">He added that the bank plans to go further. \u201cOur long-term goal is to connect customers to 50 digital wallets worldwide, giving them the most comprehensive wallet access of any banking app.\u201d<\/p>\n<p class=\"font-lucida text-xl font-medium italic leading-normal -tracking-5% text-gray-850\">Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.<\/p>\n","protected":false},"excerpt":{"rendered":"[SINGAPORE] Local bank OCBC on Thursday (Nov 20) said that it has added eight digital wallets from South-east&hellip;\n","protected":false},"author":2,"featured_media":302656,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[165,74],"class_list":{"0":"post-302655","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-mobile","9":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/302655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=302655"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/302655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/302656"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=302655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=302655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=302655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}