UOB To Shut Down PayOnline Service In June 2019
Author Avatar

 

UOB To Shut Down PayOnline Service In June 2019

UOB Bank will terminate its PayOnline bill payment platform on 1 June 2019. A favourite among credit card cashback hunters, UOB PayOnline has seen a steady drop in users, making it unsustainable to continue.

UOB PayOnline is an 24/7, online bill payment service operated by UOB Bank. Despite being managed by UOB, this service accepts all Mastercard and Visa credit cards to pay for a comprehensive range of bills in Malaysia, including utilities, telcos, insurance, government agencies, charities, and many more.

While most people may not have heard of this service, it is actually very popular among savvy credit card users in Malaysia. Bills paid on PayOnline are considered “online” transactions, which meant that users could earn cashback for paying their bills. Cards that offer cashback for online transactions are more common than those that offer cashback for bill payments, so this was a useful way to save hundreds of Ringgit a year.

On top of that, bill payments using JomPAY are not eligible for cashback on almost every cashback credit card (the UOB YOLO is an exception), so UOB PayOnline is actually the only one-stop portal for bill payments that users could get cashback benefits from.

Unfortunately, the popularity of JomPAY is the main reason behind UOB’s decision to shut down PayOnline. In its FAQ section, UOB explicitly stated that JomPAY as well as the increasing number of service providers offering their own bill payment portal resulted in a significant reduction of users on PayOnline. The bank explained that with the current amount of users, PayOnline is unsustainable.

Users can continue to use UOB PayOnline – and enjoy cashback benefits – until 1 June 2019, after which the site will be taken offline.

 

0 0 votes
Article Rating

SHARE

Comments (0)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
Top Banking Articles
Post Image
Best Fixed Deposit Accounts In Malaysia – May 2022
The RinggitPlus Team
- 29th April 2022
We provide monthly updates on the best fixed deposit rates in Malaysia with tables showing the top 5 rates for the duration of 1, 3, 6, 9, and 12 months.
Post Image
Best High Interest Savings Accounts In Malaysia (March 2022)
Pang Tun Yau
- 9th March 2022
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!
Post Image
Frequently Asked Questions About Credit Cards
Guo Heng
- 28th June 2018
Do you have questions about credit cards or are you looking to apply for your first credit card? Check out our FAQ on credit cards for all the need-to-know information.
Post Image
Old Malaysian Ringgit Notes and Coins Are Worth More Than You Think
Gavin Pereira
- 24th January 2019
Through the years there have been certain denominations of our Malaysian Ringgit that has been discontinued. Do you have any of these? It may be worth a lot now.

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image