International technology group Wirecard has partnered with Singtel to support the recent roll out of Singapore’s first Visa virtual card for Singtel’s mobile wallet Dash.
Singtel Dash is currently Singapore’s most widely accepted all-in-one digital wallet. The mobile payments platform, which allows customers to shop, pay transport fares and remit money, is part of Singtel’s strategy to transform Southeast Asia’s biggest phone carrier into a leading communications technology company by investing into digital and cyber security businesses.
“We are very proud to be a partner for Singapore’s leading digital wallet,” Grigoriy Kuznetsov, Executive Vice President, Global Financial Services at Wirecard, says. “Singtel can now process mobile virtual Visa payments with Wirecard as a Bank Identification Number (BIN) sponsor. This further reinforces our position as a leading global prepaid issuer and BIN sponsor. It also demonstrates our state-of-the-art card processing capabilities.”
Since the launch of the Visa virtual account last month, Singtel Dash’s over 500,000 customers have been using their mobile phones to make payments in over 50,000 PayWave-enabled merchants across Singapore and use the payment platform to shop at Singapore-based e-commerce stores.
“Singtel Dash has gained more traction as a payment option of choice. With the adoption of Wirecard's card processing solution, our customers can now make hassle-free mobile virtual Visa payments,” says Mr Gilbert Chuah, Head of mCommerce, Consumer Singapore at Singtel.
Transaction volumes for Singtel Dash have more than doubled in the past year and Singtel plans to expand the reach of the mobile platform to schools or even hawker centers.