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Saturday, June 07, 2014

Personal Mobile Wallet - DBS PayLah! (iOS/Android)

After that post on 1st June we decided to do an app review on DBS PayLah so you can see for yourselves what the app looks like!

If you ever once felt that funds transfer through iBanking is a downright hassle, DBS PayLah is the app for you.

I mean, look at it,
What are the steps you would need to take to perform funds transfer to a friend? 
1. Get the person’s bank account number (which most likely has around 10-12 digits). Technically that is easy, assuming the person has their bank account number at the back of their heads, which I’m sure thats what EVERYONE does.
2. Open the iBanking app
3. Login, which encompasses of having to go through the OTP process (which doesn’t make it less painful)
4. Add a new payee (HECK, I didnt bring my iBanking token out) 
5. Carefully type the person’s bank account number in, fearing that he/she might have given you that wrong number, or what’s worse, YOU have keyed in the wrong account number.
6. FINALLY get to funds transfer. 
Of course, once you have your friend as a payee it will simplify the process, but in the first place it takes so much effort just to add a payee.
Hassle-free Fund Transfer
But for DBS PayLah, it can just take you 3 steps :
1. Link your DBS account to the app, and at the same time, your mobile number (Which is only a one time thing)
2. Enter the person’s contact number you want to send it to
3. Send the money!
By using DBS PayLah, it’s like having a personal mobile wallet with you. You can keep a balance in your mobile wallet for sending and receiving money. And if you feel that you need more cash in your bank account? Just transfer the money from the mobile wallet back to your bank account! *** The only problem is that it requires the recipient to also have a DBS/POSB account, which is alright because most people in Singapore do have at least 1 DBS/POSB account.
It is really useful because with DBS PayLah, I can send money to other DBS customers, and I only require their mobile number! (Assuming they have download and linked the app to their bank account, of course)
It makes it so much easier than having to go through the hassle of keying in bank account numbers and iBanking tokens every single time I need to transfer money to someone new. Now I just need their mobile number. (and for them to download the app. But of course they will download the app, else how would they get their money back? >:D muahahaha.)
The only hassle you will need to go through is at the start when you link your DBS PayLah with your mobile number and your bank account. This is a one time thing, so it’s something I can live with.  
Security Passcode
The App also allows you to set a password so that the app is safe from anyone from opening it and sending everyone else money.
Transaction History
And what’s more, the app and the service is completely FREE!
So what’s stopping you from downloading the app now?
Here’s the link for iOS - DBS PayLah iOS,
and for Android  - DBS PayLah Android
Via Pocket App!

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