Take a look at the high mobile penetration rate for smartphones in Singapore, you can see that how smartphones have changed the life of Singaporean. Along with the trend, we also see tonnes of opportunities possess in the mobile market. One good example is mobile payment. Recently, Singapore-based Mobile Media Creation secured S$588,000 funding for their mobile payment platform MOGI
Idea of mobile payment has never been new in Singapore and many large corporations including banks tried to venture in this space. Today, SingTel has collaborated with Standard Chartered to unveil a new mobile money platform – Dash
Dash offers three innovative 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 ATM.
Dash Advance – a personal loan facility which customers can apply through their mobile phones, any time.
Dash Abroad – a customisable mobile travel insurance service which offers customers the flexibility to pick and choose coverage options to meet their needs while on the go.
The key difference between Dash and other mobile commerce solutions – it is a suite of mobile money services which integrates three important components – mobile banking, mobile payments and mobile shopping. By bringing together players in the banking, telecommunications and retail sectors, Dash delivers a differentiating experience for consumers in terms of convenience, ease of use and accessibility.
Dash updates the way you access money
Available to subscribers of all local mobile operators, Dash Easy is the first solution of its kind in Singapore that allows customers to download cash from a savings account directly into their mobile phones to pay friends and businesses. Customers no longer have to queue at ATMs to withdraw money.
Dash updates the way you pay friends
Dash Easy reinvents the way person-to-person payments are made, through a unique, patent-pending technology that mimicks physical cash transfer. With a swipe, customers can instantly transfer money from their phone to their friends’ phones, making it as reassuring as handing over cash itself. Alternatively, transfers can be made to anyone in their contact list.
Dash updates the way you pay for goods and services
Dash has partnered retail industry leaders to create a vibrant, next-generation mobile commerce community. With Dash Easy, customers can make secure payments at more than 20,000 acceptance points islandwide, including retail outlets, convenience stores, food courts and cafes, progressively rolled out in 2014. Customers will also be able to pay for their Comfort, SMRT and Prime taxi fares, without the usual administrative fees. To ensure that payments are secure, seamless and fast, Dash uses a patent-pending technology that integrates the mobile device with the merchants’ point of sale systems.
Dash Partners and Merchants
SingTel canteen and lobby cafe
Dash updates the way you save
Dash is the first mobile financial service in Singapore where customers are invited to be co-creators. For example, customers play an active role in determining the interest rate of Dash Easy Savings Account by participating in a unique social media promotion. By including the #needsanupdate hashtag on Facebook, Twitter or Instagram posts, customers can bump up the interest rate on their account to one per cent per annum.
Dash updates the way you borrow money and buy travel insurance
With Dash Advance, customers can use the Dash app to apply for personal loans without having to visit a branch or speak to a bank officer. Dash Abroad offers a unique customisable travel insurance plan that gives customers the flexilibity to pick-and-choose coverage options to meet their needs.
Signing up is easy
Customers do not need to visit a bank branch or print copies of their NRIC, as all necessary personal details and documentation can be uploaded through the app. For a limited time, customers will receive a complimentary S$10 welcome bonus, ready to be used, upon the successful sign up and opening of the Dash mobile cash account.
For more information, please visit www.dash.com.sg