SingTel launches mobile money service Dash

Dylan Bushell-Embling
04 Jun 2014
00:00
News
Daily News

SingTel has teamed up with Standard Chartered Bank to launch a combined mobile commerce and banking service.

The new Dash line of services is available for iOS and Android smartphones via a mobile app. The app provides access to three services.

Dash Easy lets customers download cash from a savings account to their phones, transfer money to their friends' phones with a swiping gesture and make payments at participating outlets.

SingTel said it plans to roll out 20,000 acceptance points island-wide throughout the rest of the year, at locations including retail outlets, convenience stores and cafes.

The Dash Advance service will allow customers to apply for loans using the Dash app, bypassing the need to visit a bank branch. Dash Abroad meanwhile is a mobile travel insurance service.

SingTel said signing up to the Dash service can be completed entirely within the app, which gives users the ability to upload the necessary documentation.

As a promotional move, the operator will offer customers signing up to the Dash service a S$10 bonus upon opening a Dash account.

SingTel CEO Group Digital Life Allen Lew said Dash represents a first-of-its-kind collaboration between a telco and a bank.

“[Dash] integrates three important components - mobile banking, mobile payments and mobile shopping. By bringing together players in the banking, telecommunications and retail sectors, we are able to deliver a differentiating experience for consumers in terms of convenience, ease of use and accessibility.” he said.

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