DBS PayNow alerts now via email in move seen to save costs
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Singapore
SINGAPORE'S largest lender DBS recently alerted its customers that all incoming PayNow transaction alerts will be sent via email, instead of SMS, with effect from Feb 16.
While DBS did not disclose the rationale behind the switch, optimising cost savings on SMS is a likely reason, given that the bank holds the lion's share of PayNow users in Singapore, said Varun Mittal, EY global emerging markets fintech leader.
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