Users can use PayAll for rent and education and earn rewards.
Citi is enabling customers in Singapore to use credit cards for recurring, non-discretionary and big-ticket items like rent and education through its PayAll service.
Users can also earn rewards and miles on their spend that would otherwise be typically done by bank or GIRO transfers. Customers need only select the credit card that will be accepted as payment for reach recipient. Before the payment due date, customers will be notified of a specified amount that has been charged which will later appear in the credit card statement along with a service fee.
The PayAll service will be progressively rolled out to Hong Kong, UAE and Thailand by end-2019. Since its beta launch in November 2018, the bank observed usage for the rent and education spend with average transactions of US$3,500.
Additional spend categories like taxes, electricity bills and condominium management fees will be introduced for Singapore customers in March.
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