This will be the first person to person experience that will be available to residents of the country.
Maybank Singapore has just announced that it has become the first person to person mobile payments service in the country with the launch of its Maybank Mobile Money app.
This allows consumers who have the app on their smartphones to send funds to anyone.
Through the use of this mobile payments service, people in Singapore will be able to download the app and then send money to whomever they want through the use of a cell number created by Tagit. That company is an award winning mobile device solutions company.
The mobile payments service is designed to allow funds to be sent between online banking customers.
This gives them the opportunity to share funds through a mobile payments service at any time through a Singapore-registered cell phone number. Then, the recipient can collect the money directly into his or her bank account based in Singapore. This service closely reflects the growing connection that people in the country have with their smartphones, as they use them for a growing number of their everyday activities. Maybank is also using it to help to further decrease the current reliance that the population has on cash.
According to the Maybank Singapore head of information technology and virtual banking, Lim Kuo Sion, “Consumer behavior is changing rapidly, aided by newer technologies. With the growth of Singapore’s smart phone and tablet penetration, we see a greater reliance on our trusted devices for daily tasks, including financial transactions.” He went on to add that this mobile payments service is an innovative solution that can simplify the process even more by allowing customers to take control over their own transactions to known recipients. He underscored that this convenient method is instant and secure, making it highly appealing.
The belief at Maybank Singapore is that by giving consumers the chance to send mobile payments directly to smartphone numbers, it will reduce the need to use checks and cash when giving money from one person to another. This will also provide customers with an additional transaction method that will suit their increasingly mobile dependent lifestyles.
