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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Oversea-Chinese Banking Corp. Limited    OCBC   SG1S04926220

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Oversea Chinese Banking : OCBC, UOB join the NETSPay mobile app

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06/19/2018 | 11:57am CEST

OCBC Bank and UOB customers can now digitally store their NETS ATM bankcards on the NETSPay mobile app, NETS announced on Monday (June 18).

This allows them to make NETS payments through their mobile phones instead of using their physical NETS ATM bankcards.

NETSPay, which was unveiled in October 2017, was available to only DBS/POSB customers at launch.

With OCBC and UOB on board, more than 11 million cardholders in Singapore can now use NETSPay at more than 105,000 acceptance points islandwide, including more than 60,000 NETS QR acceptance points, said NETS.

To use NETSPay, customers simply scan the NETS QR code or tap their NFC-enabled phones against the NETS terminals at retail stores. NETSPay will enable payments to be debited directly from the customer`s bank account.

NETSPay users can store up to 10 ATM bankcards on the app, allowing them to choose between bank accounts for different purchases and track their transactions by bank account, NETS said.

NETSPay users are not just limited to making QR code or contactless payments at retail stores. It is also available as a payment option within mobile apps (such as AXS m-Station) and for online QR-code payments at e-commerce websites (such as Qoo10, Audio House, NTUC Income, Singapore Mint, Metro Department Store and Rydesharing.com).

When asked how NETSPay differs from ApplePay and Samsung Pay - both are established platforms that already allow users to digitally store their NETS-supported bankcards - a NETSPay spokesman said that NETSPay is platform agnostic, which means it is compatible with many types of platforms, and uses the NETS network, and can be used at hawker centres.

(c) All rights reserved. Kuwait Times Newspaper 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( SGD)
Sales 2018 10 225 M
EBIT 2018 5 726 M
Net income 2018 4 653 M
Debt 2018 -
Yield 2018 3,60%
P/E ratio 2018 10,68
P/E ratio 2019 9,54
Capi. / Sales 2018 4,90x
Capi. / Sales 2019 4,47x
Capitalization 50 053 M
Chart OVERSEA-CHINESE BANKING CO
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Oversea-Chinese Banking Co Technical Analysis Chart | OCBC | SG1S04926220 | 4-Traders
Technical analysis trends OVERSEA-CHINESE BANKING CO
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 14,3  SGD
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Samuel Nag Tsien Group CEO & Non-Independent Executive Director
Sang Kuang Ooi Chairman
Wei Hong Ching Chief Operating Officer
Siew Peng Tan Chief Financial Officer & Executive Vice President
Khiang Tong Lim Head-Group Operations & Technology
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