Innovation and financial inclusivity mark mcash’s rapid adoption in 5 years

Growing from strength to strength to become one of Sri Lanka’s biggest financial services retail network since it was established on 21st November 2013, mcash is celebrating its 5th anniversary, looking back on many milestones achieved within a short span of five years.

Launched by Mobitel, mcash is one of the pioneering mobile financial services platform in the country, which has forever transformed the way Sri Lanka conducts its financial transactions. mcash has truly empowered its customers by enabling people to use their mobile phones for financial transactions, placing them in control of their finances.

The efficacy, speed and convenience of mcash are evidenced by its burgeoning base of customers of Mobitel & Etisalat, who embraced the mobile money platform to enhance their lives.

mcash fulfils 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.

Further backed by Mobitel, the National Mobile Service Provider, mcash has become a household brand.

Commenting on mcash’s 5th Anniversary, Kalhara Gamage – General Manager, Mobile Financial Services at Mobitel says, “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 people of Sri Lanka.

“mcash boasts a retail network with over 16,000 touch points spread island-wide with hundreds of partners on-board.

It offers an amazing variety of services to fulfil every conceivable lifestyle and commercial need of the people.

There’s nothing mcash can’t do and this attitude will help us forge ahead to achieve even more milestones into the future.”

mcash facilitates a wide array of services via the mobile phone such as deposits, withdrawals, sending and receiving money, paying utility and institute bills, shopping, online payments, making charitable donations, digital standing orders and robust B2B business solutions.

Committed to digital inclusivity, mcash has partnered with other mobile operators such as Etisalat, allowing Etisalat customers to experience the wide array of mcash services and offers. 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 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 plus 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 island wide. mcash B2B solutions are transforming business and the mcash robust platform is empowering sectors such as banking, insurance, finance and travel to name a few.

mcash rewards customers with popular unbeatable offers during Valentines, Avurudu, Christmas seasons etc.

Available at the click of a button, customers can top up their mcash account digitally using internet and mobile banking platforms of leading banks.