RedeemSG is currently integrated with OCBC to handle the automatic payouts for merchants. Funds will be deducted from the agencies' bank account at the end of each day to each merchant, based on the voucher amount scanned by the merchants the same day.
Procuring OCBC API access
As a new agency, you will have to first reach out to RedeemSG to indicate your interest. We will then advise you on setting up the necessary OCBC services required to onboard RedeemSG. General steps outlined below for reference.
Step 1: Reach out to RedeemSG to discuss your campaign
Share more details about your voucher campaign at go.gov.sg/redeem-new. Our team will get back shortly to discuss how we can best support your campaign.
Step 2: Agency to reach out to OCBC
Once RedeemSG has firmed up on the voucher campaign details with your agency, we will prompt you to reach out to OCBC to begin the kickstart the API access set up
Step 3: Contract and procurement with OCBC
OCBC will guide your agency through the contracting process.
APIs used will be the Bulk FAST or PayNow APIs.
Step 4: Provision of API credentials
Once the setup is complete, OCBC will provide your agency with credentials to be shared with RedeemSG. This will grant RedeemSG access to your dedicated bank account to make the reimbursements to merchants.
Step 5: Live-testing
Prior to the launch of the agency's voucher campaign, we will perform a small-value transaction from your bank account ($1) to ensure that the bank account and API is set-up properly.
Estimated charges involved
Agency will need to procure the services required by OCBC directly. Exact pricing details will be provided by OCBC during the contracting period.
Upon launch, there will also be per transaction fees (charged per payout to merchants). The following illustration covers how the per transaction fees are charged.
