DBS PayNow transactions experience delays on Tuesday

DBS’ PayNow service appears to be experiencing delays on Tuesday (Sep 26), the latest in a spate of incidents to disrupt the lender’s digital banking services.

In its Digibank app, DBS said that customers experiencing delays in their Fast or PayNow transactions should not repeat their transactions. At least two posts on X showed that users were facing issues transferring funds from about 3 pm.

Checks by The Business Times found that PayNow transactions initiated from DBS remained pending as at 4 pm. However, DBS accounts could still receive PayNow transactions from OCBC and UOB accounts.

In a Facebook post, DBS said the issue was rectified at 4.30 pm.

“We would like to assure customers that their delayed transactions will be processed by today,” the bank said.

This is the fourth incident that the bank has faced in less than two years. In May this year, the Monetary Authority of Singapore imposed additional capital requirement on DBS after its digital banking services suffered a third outage on May 5. In March, DBS said that it would set up a special board committee to look into the cause of the disruption to its digital banking services on Mar 29.

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DBS shares gained 0.2 per cent or S$0.06 to close at S$33.51 on Tuesday.