OCBC has extended its partnership with Visa, allowing Singapore customers to transfer funds directly to eight major digital wallets across Southeast Asia via the OCBC app. This development builds on last year’s integration of Weixin Pay and Alipay, making the app the most connected in the region with a total of 10 digital wallet options. The initiative aims to simplify remittances for Singapore’s foreign workforce, who often rely on slower and more expensive transfer methods.
The new feature enables near-instant, fee-free transfers to popular wallets such as Coins and GCash in the Philippines, GoPay and Ovo in Indonesia, Momo in Vietnam, and Touch ‘n Go in Malaysia. Collectively, these wallets, along with the Chinese options, serve up to 2.72 billion users. This expansion addresses key remittance challenges—speed, cost, and accessibility—particularly benefiting the unbanked population in the region.
Since the service’s launch with Chinese wallets, OCBC has processed over S$60m in transfers, significantly increasing cross-border transactions to China. The bank anticipates strong adoption among Singapore’s 1.6 million foreign workers. Sunny Quek, Head of Global Consumer Financial Services at OCBC, stated, “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.”
Visa Direct powers the app’s capabilities, providing access to nearly 11 billion endpoints globally. Adeline Kim, Visa’s Country Manager for Singapore & Brunei, noted, “Visa Direct is transforming the way money moves globally, helping to bridge financial gaps and support the millions who rely on remittances.”
OCBC’s long-term goal is to connect customers to 50 digital wallets worldwide, further enhancing its comprehensive wallet access.
