Mobitel introduces ‘mCash’
Posted by Unknown on Saturday, November 23, 2013 | 0 comments
Living by its credo of ‘We Care. Always.’ the National Mobile Service Provider, Sri Lanka Telecom Mobitel has introduced another life-style convenient service to its customers called ‘mCash’.
‘mCash’ will be available for all Post-Paid and Pre-Paid Mobitel customers by registering for a ‘mCash’ account via #111#. Customers can make monetary transactions and withdraw money from their ‘mCash’ account as well. Over 4,000 ‘mCash’ merchant points would be established at the launch of the new service and would later expand up to 10,000 merchant points across the country.
Speaking on the launch of the service, Chairman of Sri Lanka Telecom and Mobitel’s Mr. Nimal Welgama said, "We at Mobitel are confident that this initiative to deliver a nationwide Mobile Money service will provide an unprecedented level of financial inclusion through the empowerment of millions of Sri Lankan citizens with electronic money transfer and payment facilities.
Approved by the Central Bank of Sri Lanka, ‘mCash’ is a useful supplementary method to transfer money that is fast, user-friendly and would provide a host of special offers to its customers. The number of mobile phone subscribers in Sri Lanka has reached a staggering 20 million which would promote the demand for value added services such as ‘mCash’.
Custodial Banking services will be provided by Commercial Bank of Ceylon PLC, while Deutsche Bank A.G, is the Trustee Bank for this new initiative. ‘mCash’ would be the fastest, most secure and convenient method to transact money, settle utility bills and purchase goods and services via a mobile phone through an established partner network.
The dawn of the Mobile Money era in Sri Lanka has been made possible by the progressive and financial inclusion-focused, regulatory ethos of the Central Bank of Sri Lanka.
