OCBC debuts quick credit card approval and Apple Pay integration

Customers can make purchases at Apple Pay merchants within minutes of credit application.

OCBC is now enabling customers to apply for new VISA credit or debit cards almost instantly and integrating it right away to Apple Pay via the bank’s mobile banking app.

Waiting for the physical card is no longer an issue as applications are approved almost immediately so that customers can make purchases and other transactions with merchants registered with Apple Pay within minutes of their application.

“Our customers can now receive their new card digitally and provision it to their Apple Wallet to start paying with it straight away – all from within our mobile banking app and within a few minutes,” said OCBC head of e-business in Singapore. “We believe this is a huge level-up in customer experience and will further accelerate our digital card applications and cashless payments market leadership drive.”

The bank earlier unveiled a $240m cloud-enabled data centre which can support the bank’s operational needs for the next three decades.

Also read: OCBC powers AI unit with $10m investment

OCBC's staggered investments in developing its tech infrastructure is charting a positive growth trajectory for the bank as efforts to digitise its systems is set to significantly improve operating efficiency in the long-run, according to UOB Kay Hian.

“It is encouraging to see OCBC embarking on many IT initiatives to improve efficiency,” said UOB analyst Jonathan Koh.