Singapore’s DBS has teamed up with Google to integrate Google Pay with DBS PayLah!, the lender’s mobile wallet service.
The move will enable DBS PayLah! users to send and receive money, and make merchant payments through Google Pay.
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The scope of collaboration will involve integrating peer-to-peer (P2P) and peer-to-merchant (P2M) payment services.
The Singapore-based lender plans to roll out the service by early next year.
DBS Bank chief strategy officer Han Kwee Juan said: “We believe that integrating Google Pay with our DBS PayLah! platform will deliver greater convenience to consumers as they will have more options to transfer funds and make instant payments to some 80,000 merchants in Singapore.
“This collaboration demonstrates our commitment towards building wholly seamless, intuitive services for our customers and is in line with our plans to ramp up our ecosystem partnerships regionally.”
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By GlobalDataCurrently, DBS PayLah! has 1.6 million users, which DBS plans to increase to 3.5 million by 2023.
Google vice-president of Payments and the Next Billion Users initiatives Caesar Sengupta said: “We are delighted to partner with DBS in our mission to make mobile payments simple, helpful and secure and through this collaboration we hope to make that a day-to-day reality for Singaporeans.”
Besides DBS, another Singaporean lender OCBC Bank also plans to launch Google Pay service in early 2020.
Earlier this month, UK-based fintech Curve added Google Pay support to its platform.
