OCBC Bank has announced that customers in Singapore can now transfer funds directly from their OCBC accounts to eight leading digital wallets in Indonesia, Malaysia, the Philippines, and Vietnam using the OCBC app. This expansion follows last year’s integration of Weixin Pay (WeChat Pay) and Alipay, bringing the total number of supported wallets on the app to ten.
The new feature is part of an ongoing partnership with Visa that began in 2024, aiming to improve cross-border payment capabilities. The service allows near-instant, fee-free transfers to Coins and GCash in the Philippines, GoPay, LinkAja, and Ovo in Indonesia, Momo in Vietnam, PayMaya in the Philippines, and Touch ‘n Go in Malaysia. These wallets collectively reach up to 2.72 billion users across Southeast Asia.
This initiative addresses common remittance challenges such as speed, cost, and accessibility. Many foreign workers in Singapore rely on traditional money transfer services or manual bank transfers that are often slower and more expensive. With this update, users or their employers can send money directly to recipients’ digital wallets without needing a bank account or visiting a physical branch.
Since launching wallet transfers with Chinese platforms a year ago, OCBC has processed over $60 million in transfers and seen a fourfold increase in cross-border payments to China. Most users have not visited a bank branch recently, and three-quarters are professionals, managers, executives or technicians—mainly Chinese nationals sending money home. The bank expects strong adoption among Singapore’s foreign workforce of 1.6 million people.
Sunny Quek, Head of Global Consumer Financial Services at OCBC Bank said: “When we launched pay-to-wallet transfers last year, we promised to go beyond China and we have since delivered. By connecting OCBC accounts to eight of Southeast Asia’s most popular wallets, we are removing friction from cross-border payments and making remittances faster, cheaper and more inclusive. We’re not stopping here – our long-term goal is to connect customers to 50 digital wallets worldwide, giving them the most comprehensive wallet access of any banking app.”
The expanded pay-to-wallet capability is powered by Visa Direct technology which provides access to nearly 11 billion endpoints worldwide including billions of accounts, cards and digital wallets.
Adeline Kim, Visa Country Manager for Singapore & Brunei said: “Visa Direct is transforming the way money moves globally. By enabling direct bank-to-wallet transfers across Southeast Asia, we’re helping to bridge financial gaps and support the millions of people who rely on remittances for daily needs. Our latest Visa International Remittances report shows that nearly six in ten Singaporean remittance users plan to maintain or increase the amount they send overseas this year—a testament to the resilience and digital maturity of Singapore’s financial landscape.”
She added: “Our expanded partnership with OCBC enables us to connect additional digital wallets across Southeast Asia, empowering customers to send money quickly, securely, and conveniently. We look forward to extending our reach to more wallet partners in the near future.”