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"By the end of this months, UOB will introduce the first NFC non-contact ATM in Southeast Asia," says UOB. "This ATM will allow the bank's clients to easily draw money from their smartphone at the touch of a finger. "Mastercard credit and debit card Apple Pay will be the first to use this feature.

At least 60 such cash dispensers will be in service by January 2017, and by December 2018 all their existing cash dispensers will be superseded and new ones activated with NFC non-contact functions. "UOB's first generation of non-contact cash dispensers will be introduced at high frequency sites such as Raffles Place and select UOB branches," the adding statement.

"Clients will be able to find these non-contact cash machines through the UOB Mighty application. During May 2016, the Savings Banks promised its intention to remove the $100 (US$73) non-contact trade mark for NFC mobiles at all its point-of-sale payment points by the end of next year. Once the limits have been removed, UOB Mighty Pay transfers have no restrictions other than the customer's own credit or debit card limits.