Maybank launches P2P m-payment service in Singapore

Tuesday 12 November 2013 09:02 CET | News

Maybank Singapore, a subsidiary of financial services provider Malayan Banking (Maybank), has joined forces with Tagit, a mobile payments and commerce services provider, to launch Maybank Mobile Money, a person-to-person (P2P) mobile payment service in Singapore that allows a person to send money to another person using a mobile number that is developed by Tagit.

Maybanks online banking customers can pay anyone by sending money to a Singapore-registered mobile number. The funds can then be collected via any Singapore bank account.

Maybank Mobile Money provides Singaporean customers with an alternative payment and collection method for transactions traditionally done via cash or cheque. The mobile app uses Tagits mobility solution platform ‘Mobeix’ to enable person-to-person social payments, such as the splitting of bills and taxi fares, payment of fees to small businesses including private tutors and sports coaches, and payment for purchases conducted through social media.

The Maybank Mobile Money service is available as part of the Maybank Mobile Banking app, which was launched in 2012 on the Tagit Mobeix platform. The app, Maybank SG, is available in both the Apple App and Google Play stores.

Tagit is a Singapore-based mobile solutions company. Tagits mobility platform Mobeix enables banks and enterprises to build mobile applications. Its customers include global and regional financial institutions in countries across Asia, Middle-East and North America.

In recent news, Tagit has entered a partnership with Vietnamese payment switch operator Smartlink to provide mobile services to bank card users.

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Keywords: Maybank, Tagit, Maybank Mobile Money, P2P, person-to-person, mobile payment service, mobile payments, Singapore
Categories: Payments & Commerce
Countries: World
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