CPF withdrawals via PayNow hit S$40m since launch in March: OCBC

Singapore

CLOSE to 4,000 CPF withdrawals totalling some S$40 million have been made via PayNow by CPF members aged 55 and above since the service was launched in March this year, an indication that older Singaporeans are willing to try e-payments.

The CPF Board is the first government agency to adopt PayNow by leveraging on OCBC Bank's Application Programming Interface (API), the bank said in a press statement on Monday.