Weixin Pay and Alipay are the two most dominant digital wallets in China with over a billion users, making up 90 per cent of all digital payments in the country.OCBC’s pay-to-wallet service performs the transfer of monies within seconds. This improves on the current average of two to five days using other account-to-account or non-bank remittance services. In addition, it eliminates the need to physically carry cash to non-bank remittance companies to make a cross-border funds transfer.The bank plans to expand the service to more than 50 digital wallets over the next two years, tapping the most popular in-country wallets like GoPay and Ovo in Indonesia, and GCash, PayMaya and Coins in the Philippines.Sunny Quek, OCBC’s head of global consumer financial services, says: “We’re starting with access to the two biggest digital wallets in China - Weixin Pay and Alipay - but will quickly be expanding our services by adding more wallets to our digital payment capabilities. There is urgency to do so given the increasing cross-border needs of our customers.“Our wider goal is to become the go-to app for cross-border transactions in Greater China, Asean and even globally. Our customers can already scan and pay merchants globally using their OCBC app. With the roll out of our peer-to-peer pay-to-wallet service today, we are well on our way to achieving this goal.” Funds transfers are made directly from OCBC customers’ Singapore bank accounts. There is a daily and per transaction transfer limit of CNY50,000 and annual transaction limit of CNY300,000 for OCBC Singapore customers to the wallet recipients.