Singapore banks to allow cellphone numbers for transfers

While similar services are already offered by individual banks in Singapore, they are commonly based on the mobile wallet system, meaning that users must deposit some cash into their wallets before they can transfer it to someone else. The new service ... ( read original story ...)

Friends again? China’s premier to visit Singapore

according to China's state-run Xinhua news. Though Singapore does not claim any territory in the disputed waters, it has often played a mediation role between China and other claimants, including Vietnam, Taiwan, Brunei, Malaysia and Indonesia. In the past ... ( read original story ...)

Singapore Dreams of Its Own J.P. Morgan

There are no new ideas in banking -- no equivalents of flying cars, or even 20-foot containers. The revolutionary thinking in finance is usually dusted off from the archives. Singapore's plan to let bankers play businessmen is no different. That's what J.P ... ( read original story ...)

Singapore to Let Banks Invest in Digital Platforms, E-Commerce

Regulator to limit investment to 10% of bank’s capital funds Retail clients to be able to transfer money using cell numbers Singapore regulators have proposed rules that will make it easier for banks to conduct or invest in non-financial businesses such ... ( read original story ...)

Medical tourism growth easing in Singapore

SINGAPORE: Medical tourism growth here is expected to slow down amid stiffer regional competition, especially from the Malaysian healthcare market, according to UOB Kay Hian. The softer outlook in Singapore comes amid a decline in growth of foreign patient ... ( read original story ...)

New way to pay up — just use mobile phone numbers or IC

SINGAPORE — Consumers will soon be able to transfer funds directly to one another using their mobile phone number, with the PayNow service. Seven banks — Citibank Singapore, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United ... ( read original story ...)

Singapore to allow banks to enter non-financial e-commerce

SINGAPORE Singapore's central bank will streamline regulatory requirements to allow banks to conduct or invest in non-financial e-commerce businesses, it said late on Tuesday. Finance Minister Heng Swee Keat, speaking at an event organised by the ... ( read original story ...)

New PayNow service enables funds transfer using mobile phones

Seven banks – Citibank Singapore, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United Overseas Bank – will offer this scheme from July 10, according to a statement by the Association of Banks in Singapore (ABS) on Tuesday (June 22). ( read original story ...)