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DBS, Stripe, Visa to power CarouPay

SINGAPORE'S largest bank, DBS, has been confirmed to be a mobile wallet partner of Carousell, the Singapore-based online classifieds startup that in May unveiled it has raised US$85 million in Series C funding, with DBS joining as a new investor. On Wednesday, Carousell announced the launch of its long-awaited mobile payment service, CarouPay, which is developed in partnership with DBS, Stripe and Visa. The Business Times understands that DBS is...


PayNow expanding scope to include businesses

FROM August 13, businesses will be able to send and receive funds from customers and other businesses through peer-to-peer transfer service PayNow, the Association of Banks in Singapore (ABS) announced on Wednesday. As part of Singapore's Smart Nation drive to adopt digital payments, PayNow Corporate will let business owners and the government link their unique entity numbers to local bank accounts and receive payments instantaneously, without...


Singapore can use less cash and be cheque-free by 2025: Ong Ye Kung

E-PAYMENTS are catching on and the government hopes to further reduce the use of cash and make Singapore cheque-free by 2025. It is also beefing up consumer protection against e-payment risks, said Minister for Education Ong Ye Kung at the 45th annual dinner of the Association of Banks in Singapore (ABS) on Wednesday. The minister, who is a member of the Monetary Authority of Singapore (MAS) board, noted that the take-up rate of e-payments has...


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