News Product17 Jul 2019

Singapore:Local FinTech introduces 'dynamic' QR code for insurance payments


Singapore Life is said to have resolved the issue of mismatching premiums and policy numbers with the introduction of its new embedded QR code. Dubbed the scan-and-pay Singapore Life-DBS PayNow QR code, it has been developed via a collaboration between the insurer and local bank DBS for customers across life and term insurance, critical illness and endowment plans verticals. To date, over S$11m ($8.09m) of premiums have been transacted via this feature

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