New PayNow service for M1 customers from April 1
M1 customers will be able to use e-payment service PayNow when they shop at the telco’s outlets, as well as to pay their monthly bills.
SINGAPORE — Customers of M1 now have the option of using e-payment service PayNow when they shop at the telco’s outlets, making the company Singapore’s first telecommunications provider to do so.
The service, available from Monday (April 1), will be provided by United Overseas Bank (UOB).
M1 customers may also use PayNow to pay their monthly M1 bills, the telco said.
To pay for in-store purchases, M1 customers may use the mobile banking application of any PayNow participating bank to scan a quick response (QR) code generated at the M1 shop counter.
To pay their monthly bills, they may scan the QR code on their bill statement. Payment will be completed by confirming the transaction details that are automatically uploaded.
Ms So Lay Hua, head of group transaction banking at UOB's group wholesale banking, said that the service will make sales and billing processes more seamless.
“The ease and convenience of simply using a mobile phone to scan and pay will enhance the shopping and bill payment experience for M1’s customers,” Ms So added.
M1’s chief marketing officer P Subramaniam said that about eight in 10 consumers in Singapore have adopted e-payments.
“PayNow is a very convenient e-payment platform which will enhance our customers’ payment experience.”
PayNow is an interbank funds transfer service which allows users to send and receive payments between participating banks.
It does this by using the recipient’s mobile phone number, the national identity card number or foreign identification number, or a company’s unique entity number.
