Embracing innovation and harnessing technology to empower customer to bank even more conveniently.
It will soon be possible for Singaporeans to withdraw cash from the ATM by tapping your mobile phone which can also issue digital credit cards with United Overseas Bank (UOB)
The aim is by January 2017, at least 60 such ATMs will be in operation and by December 2018. With new machines enabled with NFC contactless capabilities, all of UOB’s ATMS will be replaced.
With Near Filed Communication enabling the contactless function, customers with MasterCard credit and debit cards will enjoy the ATM mobile service.
Contactless ATMs are already in use in Australia, the US and China said Dennis Khoo, UOB head of personal financial services Singapore.
Its another way of thinning your wallet
Did you know that the customers of UOB credit card in Japan take advantage of JCB promotions by applying for the UOB JCB digital credit card with the mobile and take advantage of JCB offers.
In line with the government vision, banks are rushing to make Singapore an e-payments society as it helps that the country has a high 150 per cent mobile phone penetration meaning every second a person in Singapore has two mobile phone lines registered under their name.
As for security concerns, there is no need to worry because we tend to immediately realize that we have misplaced our mobile phone rather than a physical card.
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