SingTel, Standard Charted Bank Launch A New Mobile Commerce App.
Telco SingTel has recently announced at strategic partnership with Standard Chartered Bank, in order to launch a new mobile commerce service which can access three types of service utilizing a smartphone, money transfers and retail payment, loan applications, and mobile travel insurance.
User, and not just those who are SingTel customers, will be able to download cash into their mobile phones by utilizing the new application that been given the name Dash, which will be linked to the user saving accounts, but the system will only work for those users who have a Standard Charted Bank accounts.
During the launch, there will be a few thousand retails acceptance points, these shall include cab operators ComfortDelGro and SMRT, WingTai Retail shops, Food Republic and Watson, This will continue to increase up to more than 20,000 by the end of this year.
Money transfer between friends can also be done with a physical swipe by utilizing a patent-pending technology.
This has become one of the latest list of mobile commerce services that have been launched within Singapore during the past couple of weeks, and most, mostly done by actual banks.
During the previous week, DBS Bank launched a mobile wallet application named PayLAH! while OCBC Bank managed to release it OCBC Pay Anyone during May, and Maybank began its Mobile Money service during the late previous year. Every single one of these service allow peer-to-peer instant transfer for smartphones.
The Dash application will arrive to be compatible with both the iOS and Android mobile devices.