OCBC adds 8 SEA e-wallets in digital app

Customers in Singapore can now directly transfer money to 10 e-wallets.

OCBC has added eight new digital wallets in its app, enabling customers in Singapore to directly transfer money to the selected e-wallets.

Customers can make near-instant, fee-free transfers to Coins (Philippines), GCash (Philippines), GoPay (Indonesia), LinkAja (Indonesia), Momo (Vietnam), Ovo (Indonesia), PayMaya (Philippines), and Touch ‘n Go (Malaysia).

OCBC expects significant adoption amongst Singapore’s 1.6 million-strong foreign workforce.These wallets, in addition to two earlier wallets onboarded in the OCBC platform, collectively represent up to 2.72 billion users, OCBC said in a press release.

Since launching the service with Chinese wallets a year ago, OCBC has processed over S$60m in transfers, driving a fourfold increase in cross-border transfers to China.

Visa Direct powers the OCBC app’s pay-to-wallet capabilities, providing access to nearly 11 billion endpoints, including 3.5 billion accounts, 4 billion cards, and 3.5 billion digital wallets, the press release said.