SingTel Leads Push to Cashless Society with mCash
SingTel has launched SingTel mCash, the nation's first mobile money solution that is a convenient and secure alternative to cash.
mCash enables users to make payments quickly and easily through their mobile phones, while on the move. It is available to subscribers of all mobile operators in Singapore. In the coming months, consumers will be able to pay for their daily necessities, such as transport, food and shopping, using funds stored in their virtual mCash account. They will also be able to use mCash to shop online, purchase online game credits and pay bills. This mobile money solution will be the first of its kind in Singapore to enable customers to pay their friends and family instantly, making tasks such as splitting bills in restaurants and overseas remittances a breeze.
At launch, customers can use mCash to top-up SingTel prepaid mobile services and to transfer money overseas with their mobile phones via SingTel’s mRemit service. They can conveniently top up their mCash accounts at an expanding list of outlets, including AXS stations and SingTel Retail Shops, enabling them to perform transactions immediately.
Together with the introduction of mCash, SingTel launched the mWallet smartphone app to allow mobile subscribers of any network to access their mCash easily and carry out transactions.
At launch, mWallet also offers SingTel mobile customers the convenience of using two contactless payment cards on their NFC smartphones: DBS One.Tap Mastercard and EZ-link virtual card. With a single tap, the DBS One.Tap Mastercard allows customers to pay for goods and services at more than 30,000 MasterCard Paypass payment points across the island, including cafes, cinemas and retailers. The EZ-link virtual card can be used at over 20,000 points island-wide, for example, taxis, supermarkets and fast food chains.
With secure 6-digit password protection, mWallet users do not need to worry about unauthorized usage of their mCash funds and stored-value cards.
Access to mCash is not restricted to smartphone users only. Feature phone users will also be able to perform key transactions via SMS. From 16 April 2013, they can SMS ‘mCash’ to 77766 to carry out transactions including international funds remittance and SingTel prepaid airtime top-up, without downloading the mWallet app. More features will be introduced this year.