OCBC Rolls Out Contactless Cash Withdrawals Islandwide

OCBC Bank customers only need to scan a QR code on the OCBC Pay Anyone app to make withdrawals.

OCBC customers can now make withdrawals without a bank card by generating a QR code from its mobile banking app, which can be scanned at any of its 655 Automatic Teller Machines (ATMs) islandwide, the bank announced in a statement.

Apart from reducing the time required to make withdrawals, doing away with ATM cards and personal identification numbers raises security levels as biometric verification can be selected – customers have the option of authenticating the transaction via fingerprint, faceprint or mobile banking login credentials.

We believe this completely reimagines a core service for which customers engage with the banks and will move the needle in making QR code payments mainstream in Singapore, Aditya Gupta, the bank’s head of Digital Business, Singapore and Malaysia, said

According to OCBC, mobile banking usage has tripled, while the number of its customers who used mobile banking at least once in the last three months has grown by 25 percent since 2018.

OCBC has 3 million cash withdrawals at its ATMs monthly, a figure unchanged in the past year.