SINGAPORE (Dec 13): United Overseas Bank (UOB) is working with Mamahome to provide the payment service for the Shanghai-based start-up providing apartment rental matching services in its first overseas market outside China.
Specifically, UOB will support Mamahome’s expansion into Singapore by integrating the UOB Virtual Account Solution within Mamahome’s online web service and mobile app. Singapore property giant City Developments has a 20% stake in Mamahome.
Through the UOB Virtual Account Solution, tenants will receive a unique virtual account number assigned to the property they are leasing to pay their rent. The unique identifier enables Mamahome to identify and to reconcile quickly and easily the property-related payments it receives.