Martin Lee @ Sg
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DBS PayLah – Seamless Fund Transfers

DBS PayLah! is a new phone application by DBS that allows you to perform fund transfer easily without the need to know the bank account number of the recipients.

dbs-paylahHow it works is that PayLah! acts as some kind of mobile wallet that is linked with your handphone number and DBS bank account. Your mobile number then becomes some kind of identifier for someone to make a transfer to you.

I think it’s a great idea as some people might not be comfortable giving out their bank account numbers. There are also others who do not remember their bank account numbers. So it can be a handy tool to use.

The only problem is that the receiving party will also need to have the application installed.

The DBS PayLah! application is available on both the android and iphone maketplace. Unfortunately, I haven’t had the opportunity to test out DBS PayLah! as the version was not supported on my Samsung Galaxy Tab 8.0. Yes, I’m using an 8 inch tablet as my phone :).

Recently, other banks have also been offering similar solutions and I will be talking about them in future posts.

Leave a Comment:

Rebec says 8 years ago

I dont really like the idea of mobile-wallet as phone can be lost easily and the max limit for Paylah is $999. Recently OCBC has launched PayAnyOne which has a wider exposure and it works something similar like paypal. I would prefer this as the max withdrawal is $100 & with the use FAST system, the other party needs not install similar app and they can choose to deposit the incoming funds to any of 14 banks locally as long as the person has the account with them.

Andy says 8 years ago

Paylah and all those payment options via smartphone are easy and convenient. But with viruses now attacking Android and iOS, we should guard against that. My solution is simple, do not install/use such apps. I make payments via smartphone with AXA and the banks only if they require 2FA. Remember this latest case of compromised SingPass? We have to be careful!

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