SingTel dashes into m-commerce

SingTel has partnered up with Standard Chartered Bank to launch Dash, its m-commerce and banking service. The service will allow customers to access, save or borrow money, make payments, and purchase insurance.At launch, Dash offers three mobile money solutions: Dash Easy which allows customers to download cash into their mobile phones to pay friends and businesses without the need to access an ATM; Dash Advance that allows for a personal loan facility which customers can apply through their mobile phones; and Dash Abroad which is 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.In a press conference, Allen Lew, CEO group digital life, SingTel, said that the app is centred round the lifestyle needs and habits of a mobile Internet generation who is used to downloading information and content on the go.“With Dash, we are offering them an unprecedented experience by allowing cash to be downloaded into their phones as well. 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.”By the year end, SingTel and Standard Chartered hope to extend the service to 20,000 acceptance points island-wide. Currently Food Republic, Pizza Hut, Prime Taxi, SingTel canteens and lobby cafe, SingTel Shop, KFC, Koi Cafe, SMRT Taxi, Sodexo, Spineli, Watsons, 7-Eleven, ComfortDelGro Taxis, and WingTai Retail have already come on board to accept Dash payment in their outlets.Meanwhile a social media aspect is also being utilised to encourage Dash users to spread the word amongst their peers by using the hashtag #needsanupdate. SingTel also added that the offer is currently open to users from competing telcos as well to have which will be linked to their Standard Chartered savings account.Som Subroto, Standard Chartered's regional head of retail clients, ASEAN, added; “At Standard Chartered, we have three guiding principles when we develop a new product: It has to be relevant to the customer; it has to be secure and it has to be innovative. Dash is a great example. We are always seeking ways to make banking simpler and more convenient for them.”He added that Dash “harnesses the power of technology and analytics to make the customer experience more intuitive” while ensuring that transactions remain safe, secure and confidential with its three security layers.