DBS partners with Xero to launch online payment solution for SMEs

It aims to help SMEs simplify bill payments.

DBS, in partnership with Xero, has announced the launch of a new online payment solution for small-medium sized enterprises (SMEs).

According to DBS, the new payment solution eliminates an SME’s administrative burden of having to manually enter payment details on multiple platforms.Payments can be initiated on Xero, and approved through DBS IDEAL, which is the bank’s corporate internet banking platform. SMEs will also be able to boost productivity by tracking real-time payments, DBS said.

The payment solution mainly aims to address SME problems on finance-related matters, particularly in cash flow, which is cited by DP Information Group's SME Development Survey 2017 as a growing concern in 1 in 3 Singaporean SMEs.

The payment solution will be free for existing DBS-Xero customers in Singapore.

The bank also plans to initiate this solution in Hong Kong by the end of 2018.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia