Singapore FinTech Festival sees three major collaborations, Latest Business News - The New Paper

Singapore FinTech Festival sees three major collaborations

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Partnerships and collaborations were coming thick and fast on the first day of the Singapore FinTech Festival yesterday.

Three major ties-up were announced as start-ups and blue-chip companies look for ways to reap rewards in the fast-changing area of digital finance and payment.

One initiative involves Indonesia-based ride-hailing firm Go-Jek linking up with DBS Bank for regional payment services.

Go-Jek, whose backers include Google, Temasek and Tencent Holdings, is set to launch here in the coming weeks, said a bank spokesman yesterday.

A Go-Jek spokesman said the firm is working with DBS on a payment service for drivers and customers.

In a similar move, United Overseas Bank is working with Grab to deliver financial services to the ride-hailing firm's user base in South-east Asia.


The partnership will allow Grab to offer a number of the bank's payment solutions directly from its app, said a UOB spokesman.

Consumers will enjoy privileges when paying for Grab services with UOB cards.

Both parties said they will explore launching co-branded credit cards in the region.

Grab will also introduce a new way to allow users to top up their GrabPay e-wallets directly from their UOB accounts.

A third collaboration announced yesterday involved Razer Pay, a mobile wallet from gaming giant Razer.

The wallet will be accepted at around 40,000 Nets unified point-of-sale terminals and 55,000 QR acceptance points when it is launched here by next March.

In addition to Nets, brands such as Reebonz, Sistic, SP Group and WTS Travel are devising ways to incorporate Razer Pay's capabilities into their systems. - THE STRAITS TIMES