The national mobile service provider SLT Mobitel’s mobile money platform, mCash, which has redefined the way consumers perform transactions with the use of a mobile phone, recently celebrated its second anniversary of successful partnerships with thousands of customers andbusiness stakeholders alike.
mCash, with Commercial Bank as its custodian bank and Deutsche Bank as its trustee bank, has experienced immense growth over the last two years with a large clientele that continues to expand countrywide.
mCash has enabled its users to maintain a mobile money account and experience a convenient and swift method of carrying out monetary transactions in a modern and technologically simple way. The secure mCash platform is licensed under the Central Bank of Sri Lanka and offers a full range of services that includes depositing, withdrawing and transferring money, paying utility bills, insurance premiums and leasing payments, payments to government institutions, making charitable donations,purchasing goods and services and online payments.
mCash provides a customer-friendly experience to upgrade customer lifestyles and enables convenient money transactions without leaving the comfort of their homes.
A number of services offered via mCash include the ‘Cash Out from CardLessATM’ service, which allows customers to withdraw cash from any Commercial Bank CardLess ATM via mCash through their mobile. Customers can also make utility bill payments via mCash to the Ceylon Electricity Board, SLT Mobitel, SLT, SLT CDMA, Lanka Electricity Company,National Water Supply and Drainage Board and Lanka Broadband Networks.
mCash also has a lucrative partnership with other telecom operators such as Etisalat and Hutch to allow bill payments and Top Ups via mCash. Lanka Bell also signed up with mCash to allow its customers to make bill payments through mCash.
mCash has an extensive network of insurance companies including AIA, Union Assurance, Sri Lanka Insurance Corporation Limited, Ceylinco Insurance, Asian Alliance Insurance, Janashakthi Insurance, HNB Assurance, Amana Takaful, Allianz Insurance.
The mCash Merchant Network also keeps expanding allowing more and more customers to purchase goods and services via mCash.
mCash has also extended its Channel Partner Network that includes Abans, Singer, Star United, Sanasa, Rural Banks and other partners, allowing more customers to experience mCash-enabled transactions.
Another segment that mCash stepped into is microfinance. The microfinance solution developed by mCash uses a mix of B2B and B2C aspects in its full offering to the market which supports transaction backbone of microfinance implementations in the country. The product was launched in June 2015 together with Alliance Finance Ltd, which was the first of its kind in Sri Lanka.
Meanwhile, mCash also for the first time launched an iOS app and an Android app to allow customers to use mCash more conveniently. mCash has also supported CSR activities and charities to religious places of worship and other recognised charities via the unique services offered via mCash.
mCash has also maintained a reputation for offering the best promotional offers for mobile money customers by offering big discounts and offers during Valentines, Avurudu and December seasons, in addition to a 25 percentcash back promotion which has attracted a large customer base.