OCBC is set to become the first Singapore bank to allow its customers to scan and pay all merchant QR codes in Mainland China using its mobile banking app. This new capability, expected to launch in Q1 2026, is made possible through an expanded partnership with UnionPay International, leveraging NETS infrastructure to support payments to merchants accepting Weixin Pay (WeChat Pay). This enhancement complements the app’s existing Alipay+ and UnionPay QR payment capabilities.
The new feature will benefit OCBC Singapore customers travelling to China, where QR-based cashless payments are prevalent. Customers can make payments by simply scanning any Weixin Pay, Alipay+, or UnionPay merchant QR code, with transactions debited directly from their OCBC accounts. This eliminates the need for third-party apps or currency exchange, offering competitive, real-time exchange rates without additional fees.
OCBC’s Scan & Pay feature has already seen significant adoption, with payment volumes increasing by 11% year-on-year and active users rising by 67%. Mainland China remains the top destination for these QR payments, coinciding with a surge in travel demand. According to Oxford Economics, arrivals from Singapore more than doubled in 2024, reaching an estimated 535,000.
Sunny Quek, Head of Global Consumer Financial Services at OCBC, stated, “QR payments are the norm in Mainland China. Our goal is to enable customers to pay like a local.” Beyond China, the Scan & Pay feature connects to QR payment networks in 48 countries, providing comprehensive coverage for OCBC app users. Additionally, the app supports peer-to-peer transfers to digital wallets across Southeast Asia and direct money transfers to Mainland China via Weixin Pay and Alipay+.
