Singtel signed a deal with Visa to bundle Singapore’s first Virtual Visa Account facility into its Dash mobile wallet app.
Under the agreement, Singtel’s mobile wallet customers will be able to pay for goods using pre-loaded funds at any location in the country accepting Visa debit cards, which includes more than 50,000 merchants. It can also be used for online purchases.
To further expand the scope of the service Singtel aims to strike further deals that will see its service supported by Apple Pay and “other global wallets”.
Dash has a customer-base of 500,000, and offers retail payments, transport ticket transactions and remittance – both locally and internationally. Since the service’s relaunch last year, the company said transaction values had doubled.
“Dash’s goal is to deliver ubiquitous mobile payments for everyone in Singapore,” Singtel CEO for Customer Experience, Yuen Kuan Moon said. “With Dash Visa, customers can now enjoy paying with their mobile at more than 50,000 physical merchant points and also on e-commerce sites.”
Visa country manager for Singapore and Brunei Ooi Huey Tyng added: “Singaporeans are becoming more digitally engaged and smartphones have become an integral part of their lives. Based on research that we have conducted, two out of three Singaporeans have made a payment using their smartphones, and it is even more popular amongst millennials.”