Both parties are also looking at exploring a bank-to-wallet solution that enables real-time remittances between DBS customers and over 1.8 million user accounts on the Alipay+ ecosystem. The solution will use ISO 20022 messaging standards and leverage the SWIFT network.
DBS and Ant International have signed a memorandum of understanding (MOU) where both parties will jointly explore innovative payments, digitalisation and fintech solutions to provide more inclusive solutions for regional businesses.
Under the MOU, DBS’s PayLah! will join the Alipay+ payments ecosystem, which means over three million PayLah! users will be able to make payments via QR codes to over 150 million merchants in over 100 markets.
