M1 taps UOB for QR code payment

telecomasia.net

Singapore operator M1 has partnered with the nation's United Overseas Bank (UOB) to offer PayNow as a payment mode for M1 customers.

Under the agreement, M1 customers can now make mobile payments for purchases via PayNow at all M1 Shop outlets, as well as make monthly bill payments via PayNow by scanning the QR Code on the bill.

M1 is the first communications provider in Singapore to enable retail customers to make e-payments via PayNow, providing customers with an additional payment option, in addition to existing payment modes. UOB is the key provider of PayNow Corporate services to M1, and will help enable the safe and hassle-free scan-and-pay experience for M1’s customers.

To pay for in-store purchases, customers need to scan a dynamic QR Code that is generated at the counter using the mobile banking application of any PayNow participating banks with QR scanning functionality. Customers can also use PayNow to pay for their monthly bills by scanning the dynamic QR code on their bill statement. Customers can complete the payment by confirming the transaction details that have been automatically filled in, such as the payment amount and recipient.

“Today, about eight in 10 consumers in Singapore have adopted e-payments and PayNow is a very convenient e-payment platform which will enhance our customers’ payment experience. This new initiative is one of many, as part of our digitalization journey to deliver a seamless digital experience for our customers,” M1 CMO  P. Subramaniam said.

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