Singtel and Mobike ink deal for mobile payments

Singtel's customers across Asia will be able to pay for Mobike rides through a mobile wallet.

Singtel signed a memorandum of understanding (MoU) with bikeshare firm Mobike to facilitate mobile payments for bike rides across Singapore and Asia.

According to a press release, through the Singtel Open Platform, a group-wide payment gateway, mobile customers across Asia will be able to pay for trips using direct carrier billing or the Group’s mobile wallets.

Singtel and Mobike's partnership will also Internet of Things (IoT), data analytics, and marketing.

This strategic partnership extends across Singtel, Optus and regional associates Airtel, AIS, Globe, and Telkomsel,

The two firms also intend to explore new IoT technology, such as eMTC and NB-IoT which will enable the smart bikes to be located more precisely even in areas that are technically challenging for mobile signals such as underground parking spaces.

Mobike’s AI platform currently generates over 30TB of data daily, which is analysed for a wealth of insights. Singtel and Mobike said they will explore the use of data analytics to improve the distribution of Mobike’s fleet

Additionally, the two will partner on marketing initiatives to promote each other’s services.

More From Singapore Business Review

• Oxley buys Mayfair Gardens for $311m
  

• k1 Ventures completes disposal of interests in Guggenheim Capital
  

• Here's how DBS' digitalisation boosts profitability