UOB announces digital card issuance and contactless ATMs

UOB announces digital card issuance and contactless ATMs

United Overseas Bank (Limited) has launched (what it claims as) two market firsts that leverage contactless mobile payment technology for its customers’ convenience. Instant digital credit card issuance UOB cardmembers will be the first in the world to enjoy instant digital credit card issuance through their smartphones. Existing UOB credit cardholders will be able to apply for, receive and use the most popular1 UOB credit cards through the UOB Mighty app by the end of October.

This will enable them to take advantage of promotions specific to the credit card on the spot, or obtain a new card if they have misplaced it. “Consumers today want hassle-free modes of payment anywhere, anytime. We’ve all been in a situation where we are at a supermarket or restaurant offering promotions for a credit card we don’t hold and wish we had that card right then. With instant digital card issuance, UOB cardmembers can apply for and receive a digital credit card in minutes and use it immediately to enjoy its benefits,” said Dennis Khoo, Head of Personal Financial Services Singapore, UOB.

By the end of this month, UOB has said it will roll out Southeast Asia’s first Near Field Communication (NFC) contactless Automated Teller Machine (ATM). This ATM will enable the Bank’s customers to withdraw cash simply with the tap of their smartphones. Customers with MasterCard credit and debit cards on Apple Pay will be the first to enjoy this service. By January 2017, at least 60 such ATMs will be in operation and by December 2018, all its current ATMs2 will be replaced and new machines will be enabled with NFC contactless capabilities. Android phone users will be able to start tapping on these contactless ATMs using the UOB Mighty Pay app by January 2017.

UOB has also lifted the $100-limit for all mobile contactless payments made at its point-of-sale terminals. To date, the Bank has added 4000 new contactless terminals and will enable a further 6000 terminals by the end of the year. UOB expects that mobile contactless payments will account for one in five transactions made on all UOB credit and debit cards by 2020.

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