Established on the 21st of November 2013, mCash celebrated their 5th anniversary with great pride. Since their launch, mCash has grown to become one of Sri Lanka’s biggest financial services retail network. Launched by Mobitel, mCash has empowered its customers by enabling people to use their mobile phones for financial transactions, placing them in control of their finances.
The progress and popularity of mCash is seen by the base of customers of Mobitel & Etisalat, who have utilized the mobile cash platform to enhance their lives. mCash fulfills all the security requirements customers need, as it is licensed by the Central Bank of Sri Lanka and has Commercial Bank as the Custodian Bank and Deutsche Bank as the trustee bank.
Commenting on mCash’s 5th Anniversary, Kalhara Gamage – General Manager, Mobile Financial Services at Mobitel said, “It is a source of great pride for us to look back at the massive strides that mCash has taken to become one of the most widely used mobile financial services platforms in the country within a short period. Clearly, commitment to innovation has underlined mCash’s success at every turn. With every innovation that mCash introduced, it made financial transactions that much easier for the people of Sri Lanka”
mCash currently packs a retail network with over 16,000 Touch Points spread island-wide with hundreds of partners on-board. It offers a variety of services to fulfill every conceivable lifestyle and commercial need of the people. mCash facilitates a wide array of services via the mobile phone such as Deposits, Withdrawals, Sending & Receiving Money, Paying utility & institute bills, shopping, online payments, making charitable donations, Digital Standing Orders and robust B2B business solutions.
Any Mobitel or Etisalat Customer could simply get onboard of mCash free of charge by dialing #111# from the mobile. The mCash Mobile App has also further made mCash transactions more user-friendly whereby customers could download it from the Apple App Store, Google Play Store and the Windows Mobile Store.
Most recently, mCash launched Sri Lanka’s First Ever Mobile Platform to offer Loans up to 25,000 via mCash by partnering with LOLC Finance where customers could apply for a loan simply from the mobile. These Digital Loans offer access to finance, a true enabler for grassroots communities. In yet another innovation, mCash launched Bank Deposits via mCash by partnering with NSB to launch NSB iSaver Service – allowing any Sri Lankan to save digitally by simply visiting 16,000+ mCash Retailers island-wide. This not only inculcates the savings habit but encourages greater adoption as it is a digital savings product.
mCash has entered into strategic partnerships where needed, launching Cardless ATMs with Commercial Bank for the first time in Sri Lanka to allow Cardless Cash Withdrawals for mCash customers and also recently with Sampath Bank, where mCash boasts the largest ATM network in Sri Lanka for Mobile Money Withdrawals with over 1000 ATMs island-wide. mCash further enhanced the user experience to customers with the introduction of a QR Code for payments where customers can simply scan the code and process a payment. This is currently live for mCash top-ups, withdrawals, send & receive money and pay for shopping at any of the mCash merchants and retailers islandwide.