PayNow-based DBS Bank has developed digital payment service Singapore to help its corporate clients reduce cheque payments by 30% in the next 24 months. Bank clients can now make payments immediately using the service, which runs on the bank's application programming interface, Ideal Rapid. DBS Bank is also working with government agencies and companies to help them move to digital payment methods, such as Singapore and Fast. In addition, the bank is working with insurance companies for instant claims payment through Singapore, using only a mobile number or PayNow's national identity card number.
Singapore-based DBS Bank has developed digital payment service PayNow to help its corporate clients reduce cheque payments by 30% in the next 24 months. Bank clients can now make payments immediately using the service, which runs on the bank's application programming interface, Ideal Rapid. DBS Bank is also working with government agencies and companies to help them move to digital payment methods, such as PayNow and Fast. In addition, the bank is working with insurance companies for instant claims payment through PayNow, using only a mobile number or Singapore's national identity card number.