Standard Chartered Bank joins forces with SingTel for m-banking service

Wednesday 4 June 2014 11:25 CET | News

Financial institution Standard Chartered Bank and Singapore-based telecoms operator SingTel have launched a mobile money service dubbed Dash which can be used by customers to make payments.

Dash service has three functionalities: Dash Easy is a savings account linked to a mobile cash account. Customers can download cash into their mobile phone and use it to make payments. Dash Advance is a personal loan facility where customers apply through their mobile. Dash Abroad is a mobile travel insurance service.

The Dash mobile app is available for iOS and Android devices and to subscribers on all local mobile operators. Peer to peer payments are made through a swipe interface. Customers swipe the funds across to their intended recipient’s mobile phone. Transfers can be made to anyone in the customer’s contact list.

According to Standard Chartered Bank, there are 20,000 acceptance points for Dash in Singapore, including retail outlets, convenience stores, food courts and cafes. Customers will also be able to use the service to pay for public transport and taxi fares.

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Keywords: Standard Chartered Bank, Singtel, m-banking service, mobile shopping, mobile payment, Singapore
Categories: Payments & Commerce
Countries: World
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