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GrabPay Users Can Now Increase Transaction Limit to $SGD 30,000 After KYC Process

via Fintechnews Singapore 

Grab users will now be able to authorise the retrieval of personal data from MyInfo, a digital identity service from GovTech, to complete the verification process easily.

This comes after GrabPay became a relevant stored value facility (SVF), licensed and regulated by the Monetary Authority of Singapore (MAS).

As a regulated e-wallet, Grab is now required to perform customer identity verification on GrabPay users, in a process called KYC (Know Your Customer). (more…)

InspirAsia, Mobile payments/banking, Singapore

June 7, 2019