04 Oct '17, 2am

Maybank, Singapore fintech InfoCorp launches mobile payment app for migrant workers

Maybank, Singapore fintech InfoCorp launches mobile payment app for migrant workers

INFOCORP Technologies, a Singapore-based fintech company, has signed a memorandum of understanding (MOU) with Maybank Singapore to provide services to unbanked people in Singapore and the Asia-Pacific region. Under the pact, InfoCorp has launched, for 16,800 workers living in Tuas View Dormitory, CrossPay - a mobile application that facilitates cashless payments between the workers and merchants operating within the dormitory. InfoCorp specialises in delivering financial services, through blockchain solutions, to people who cannot afford formal banking services. Using CrossPay, workers can store their identities on mobile devices and transact via a private blockchain platform for goods or services within the dormitory. sentifi.com Market voices on: Merchants can then settle these payments through Maybank with the dormitory operator. SEE ALSO: S'pore group working on Know Y...

Full article: http://www.businesstimes.com.sg/banking-finance/maybank-s...

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