Singapore operator M1 has introduced a digital mobile remittance service dubbed ‘M1 Remit’ which is now integrated with MyInfo to enable account registration experience. Vietnam is a newly added remittance destination, raising the number of remittance destinations to ten, including Bangladesh, India, Indonesia, Malaysia, Myanmar, Pakistan, Philippines, Sri Lanka and Thailand.
The M1 Remit mobile remittance service provider uses trusted authentication service MyInfo, a government digital service for SingPass users to manage the use of their personal data when transacting online with participating government agencies and commercial entities. The service is designed to help businesses enable electronic-Know Your Customer (e-KYC)1 in their digital solutions with customers’ consent.
With MyInfo, users can perform instant account registration and verification using the M1 Remit mobile app anytime, anywhere, and thereafter transact their remittance, M1 said. Users can complete their remittance transaction by making their payment through the same mobile app.
M1 Remit is now open to both M1 and non-M1 mobile customers in Singapore. Registered customers can remit money to any of the ten destinations. Recipients will be able to cash out within an hour of the transaction from over 40,260 cash agents and 729 banks in the destination countries. M1 Remit is available to iOS and Android users.
Source: https://www.telecompaper.com/news/m1-launches-mobile-money-remittance-platform-with-myinfo--1244827