Singapore telco SingTel has collaborated with Standard Chartered Bank to develop Dash, a mobile money service app that offers a suite of mobile banking, mobile payment and mobile shopping services.
Currently, Dash offers three types of mobile money solutions:
- Dash Easy: a bundle of two accounts in one solution—a savings account seamlessly linked to a mobile cash account. Customers can download cash into their mobile phones to pay friends and businesses without the need to access an Automated Teller Machine (ATM).
- Dash Advance: a personal loan facility that customers can apply for through their mobile phones at any time.
- Dash Abroad: a customisable mobile travel insurance service that offers customers the flexibility to pick and choose coverage options to meet their needs while on the go.
All users — not just SingTel subscribers — can download cash from a savings account directly into their mobile phones with Dash. However, this service is only limited to users with Standard Chartered Bank accounts.
Currently, Dash allows for payments made at several acceptance points, including cab operators ComfortDelGro and SMRT, Wing Tai retail shops, Food Republic and Watsons. This will grow to more than 20,000 by the end of this year.
Person-to-person payments can also be easily made through patent-pending technology — all it takes is a simple swipe on the screen for the money to be transferred to another account.
“Dash is centred on the lifestyle needs and habits of a mobile Internet generation who are used to downloading information and content on the go,” said Allen Lew, SingTel’s CEO Group Digital Life. “With Dash, we are offering them an unprecedented experience by allowing cash to be downloaded into their phones as well.”
Som Subroto, Standard Chartered’s Regional Head of Retail Clients, ASEAN, added: “Dash harnesses the power of technology and analytics to make the customer experience more intuitive, seamless and delightful, while ensuring that transactions remain safe, secure and confidential. This is just the beginning and I am excited to see how Dash will evolve.”
Dash is a free mobile app that can be downloaded on both iOS and Android mobile platforms. For a limited time, customers will receive a complimentary S$10 welcome bonus upon the successful sign up and opening of the Dash mobile cash account.
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