In what it claims is a world first, Singapore's United Overseas Bank has unveiled an instant digital card issuance service, enabling customers to apply for, receive and use credit cards through the UOB app.
Available next month, the feature means that customers will be able to take advantage of promotions specific to many of the bank's credit cards on the spot, or obtain a new card if they have lost their old one.
Dennis Khoo, head, personal financial services, Singapore, UOB, says: "We’ve all been in a situation where we are at a supermarket or restaurant offering promotions for a credit card we don’t hold and wish we had that card right then. With instant digital card issuance, UOB cardmembers can apply for and receive a digital credit card in minutes and use it immediately to enjoy its benefits."
Meanwhile, UOB is also set to roll out Southeast Asia's first NFC ATMs, letting customers withdraw money with a tap of their handsets.
By the end of this month those with MasterCard credit and debit cards on Apple Pay will be able to make phone-based withdrawals at select machines. Android phone users will follow by January 2017. UOB aims to have 60 contactless ATMs by January with its entire fleet upgraded by the end of 2018.
Says Khoo: "We have seen monthly mobile contactless payments made on UOB cards grow by more than 20 times since the launch of UOB Mighty last November. This is why we are offering customers the option of using contactless technology to withdraw cash at ATMs."