News: Dash transforms every mobile phone into an ATM

03 June 2014 – SingTel and Standard Chartered Bank unveiled Dash, a ground-breaking mobile money service that revolutionizes mobile commerce and banking.  In a first-of-its-kind collaboration between a telco and a bank, Dash offers innovative solutions that update the way customers access, save or borrow money, make payments, and purchase insurance.

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Dash offers the following 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.

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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 / wait at ATMs to withdraw money.

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.

Aside from the above, Dash has partnered retail industry leaders to create a vibrant, next-generation mobile commerce community.

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 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.

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As for 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.

Dash features will be updated regularly and customers can look forward to more exciting products, features and payment acceptance points in the coming months. They can submit their suggestions on new app features and enhancements via the Dash website, as well as recommend the businesses to be added to the list of supported partners.

To sign up, 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.

App links:
iTunes – https://itunes.apple.com/us/app/dash-singapore/id787113587?ls=1&mt=8
Google Play – https://play.google.com/store/apps/details?id=com.scb.dash.android

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Details as shared by SingTel Corp Comm.

Visual as screenshot from Dash.com.sg.