With changing eras, fashions of everything change, but there is a particular fashion of paying the merchants that have not changed. Paying merchants traditionally was very simple as it was directly given to them by cash, but with changing times, merchants, as in businesses, demanded payment in the form of cheques.
Paying cheques was a simple procedure; you just had to write cheques to the merchants, but this procedure was kind of disadvantageous for the banks as they had to hire many tellers for all these kinds of work, so they decided to invent something. Then all the banks were incorporated to make VISA, which made transferring money from one bank to another easy.
VISA was the first merchant payment technology, after which many similar technologies emerged. A similar one is DBS MAX. It is a system adopted by the DBS but can also be used by consumers who are not part of the DBS bank.
Any business needs to do IDEAL registration to enjoy the perks. Any business firm without registration cannot use it.
Payment in money collection applications such as DBS MAX can be paid via FPS registration id, QR code, and bank transfer.
DBS MAX – a money collection app, allows to pay or receive money in real-time. It also gives real-time notifications to the users and caters to all types of business outlets, multiple or single.
DBS MAX also allows the reconciliation of multiple payments at the same type, which is advantageous to the owners of multiple outlets as they can manage all different accounts in one account and have payment slips, all online, simultaneously.
The application process in DBS MAX:
- These steps are for consumers who are IDEAL users. First, log into the DBS IDEAL using the company’s ID, User Id, and bank account pin.
- Register to MAX through the MAX assistant portal.
- Then under the admin tab, select register DBS MAX App.
- If you are new to DBS, make a business account and request IDEAL access.
Making merchant payments and transferring money can quickly be done via DBS MAX, which is affordable and can be used overseas, by overseas merchants. Any payment via this application can be made possible to anyone around the globe with just an FPS id or QR code. Merchant payment has become so easy with this application that you can even get your paycheck from a different bank or shop and pay for item abroad without any inconvenience.
