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SINGAPORE: Telco SingTel is touting a new mobile cashless service, dubbed “mCash”, which allows people greater ease in transferring money.
In the future, you’ll just need your mobile phone to pay for groceries and shop online.
But for now, before those options become available, the service lets people wire money overseas.
Your mobile phone is turned into a virtual mini-bank with SingTel’s “mCash”.
Users of the telco’s service can use their phones to pay for their shopping by June 2013.
In the later half of the year, “mCash” users can send money to each other, wirelessly.
The service is free of charge.
And even subscribers of other telcos, like M1 and StarHub, can sign up.
People need to register for an “mCash” account and top it up with money to access the service.
The top-ups can be done at SingTel’s retail shops or AXS stations.
Right off the bat, “mCash” lets you wire money overseas to the Philippines.