OCBC, UnionPay bolster cross-boundary digital payment feature

Customers can make payments from their OCBC accounts of up to S$1,000 daily.

Singapore’s OCBC bank has expanded the feature of its digital app, where customers can transact through UnionPay QR-enabled merchants.

This is available to 47 markets for OCBC Singapore bank account holders.

This eliminates the need for third-party payment apps or currency exchange queues.

The scan-and-pay feature is a result of an agreement signed between OCBC and UnionPay International (UPI) in April 2023.

It is OCBC's latest cross-border payment collaboration, building on previous linkages with Malaysia's DuitNow QR and Thailand's PromptPay QR for peer-to-merchant transactions.

The bank said the launch is timely due to the expected increase in travel to Mainland China following the resumption of 15-day visa-free entry for Singaporeans.

ALSO READ: OCBC establishes chief sustainability role, nominated Mike Ng

The feature is also usable in other popular destinations such as Malaysia, Thailand, and Hong Kong SAR.

Customers can make direct payments from their OCBC Singapore accounts up to a daily transaction limit of S$1,000, which covers typical traveller expenses.

The exchange rate is displayed on the app before confirming transactions, with no additional fees.

Follow the link for more news on

OCBC Bank

A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. 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