Digital Wallet Corporation and DBS Bank Launches Automatic Process for DepositsFintech
As of Mar. 16, 2023, Digital Wallet Corporation (DWC) partnered with DBS Bank Ltd. (DBS), known as one of the major Singaporean international banks and financial services, to launch a faster and more secure deposit transaction process for Smiles Mobile Remittance (Smiles) customers in Singapore.
The collaboration involves the integration of DBS’s API (known as Application Programming Interface) into DWC’s system, which allows for the automatic validation of deposit transactions and faster processing times.
One of the highlights of the partnership is that reporting of payment for remittance orders is no longer required as the system, along with DBS, automatically confirms the transactions. This eliminates the need for manual processing and completely reduces the risk of errors.
The partnership guarantees safe and secure transactions as deposits will be automatically matched by the system.
The new procedure is intended for Smiles customers who will use Scan & Pay, while others who prefer to use bank transfers will have their transactions processed through a different but secure verification process. Scan & Pay and Smiles have generated a system where users can simply scan a PayNow QR code during the transaction process.
Digital Wallet Corporation’s alliance with DBS Bank in Singapore is a significant step towards improving the advanced technological aspect of Smiles Mobile Remittance.
“DBS is one of the most trusted banks in the world and provides advanced fintech services,” said Digital Wallet CEO and Founder Eiji Miyakawa. “Together with our state-of-the-art service, Smiles, I am happy to be able to establish a fine daily life infrastructure for global citizens.”
This collaboration anticipates that both businesses can benefit from the partnership and utilize each other’s strengths to provide better services to their customers.
About Digital Wallet Corporation
Digital Wallet was established in 2014 by former Sony designers and engineers as well as employees who developed global cloud services. The company had visions to excel in and provide B2B application services as well as a remittance service. In 2017, Digital Wallet combined the powers of Artificial Intelligence (AI) and Financial Technology (FinTech) and used their expertise to carefully craft and develop a service that helps overseas workers support their loved ones by offering high rates, low fees, excellent customer service and real-time speed through Smiles Mobile Remittance. Smiles has made great achievements such as becoming the number one global money transfer service in Japan and receiving the prestigious 2021 Good Design Award. Digital Wallet hopes to make an impact on the world by uniting international communities all over the globe with its services and bringing peace to all nations. For more information, please visit the following links:
Digital Wallet Corporation: https://www.digitalwallet.co.jp/
Smiles Mobile Remittance: https://www.smileswallet.com/
About DBS Bank Limited
DBS Bank is one of the leading financial services in Asia, with over 280 branches in 18 markets. Headquartered in Singapore, DBS provides a variety of banking services, including consumer, corporate, and investment banking, as well as wealth management and insurance. DBS has been recognized for its digital transformation efforts, winning numerous awards for its innovative products and services. To learn more about DBS Bank, visit their website here.
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