United Overseas Bank has launched a new mobile app that allows
customers to turn their mobile phones into electronic wallets that can
be used to make contactless payments, the first such offering by a bank
outside the U.S.
For example, a user who wants to pay for an item in a shop with his
UOB Visa credit or debit card will no longer need to flash the actual
plastic. He can simply select the 'Pay' function on the UOB Mighty app,
enter a PIN and tap against the payment terminal to complete the
transaction.
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