Bank of China and Industrial and Commercial Bank of China (ICBC) have added PayNow, a peer-to-peer money transfer service, to its offering.
The service is already offered by Citibank Singapore, DBS/POSB, HSBC, Maybank, OCBC, Standard Charted and UOB.
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Customers of participating banks can make money transfers through PayNow by using their mobile number, or Singapore NRIC (national registration identity card) or FIN (foreign identification number).
The service is available round the clock and does not charge customers for making fund transfers.
PayNow has facilitated over 1.2 million registrations and over S$470m worth of transfers as at 31 March 2018.
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