Singapore’s third largest mobile operator M1 introduced a digital mobile remittance service enabling customers to access real-time exchange rates and remit funds through a mobile app or browser on their smart device.
M1 Remit offers eight remittance destinations – Bangladesh, India, Indonesia, Myanmar, Malaysia, Sri Lanka, Pakistan and the Philippines. Thailand, Vietnam and other destinations will be made available soon. For a limited time, M1 Remit is waiving the remittance fee to these destinations.
Unlike typical remittance services, which require customers to queue at a physical outlet, transactions can be made at any of 915 ATM machines in Singapore, the operator said. Customers without a bank account or ATM card can make cash payments at M1’s IMM and Paragon outlets.
“M1 Remit offers a wholly digital experience for money remittance,” said Alex Tan, M1’s chief innovation officer. “Nobody likes to queue, and now our customers can skip the queue and make better use of their time with an M1 Remit.”