SLT-Mobitel’s mCash partners Union Bank | Sunday Observer

SLT-Mobitel’s mCash partners Union Bank

16 January, 2022
CEO of Mobitel, Chandika Vitharena exchanges the MoU with Director and CEO of Union Bank Indrajit Wickramasinghe. SLT-Mobitel  and Union Bank officials look on.
CEO of Mobitel, Chandika Vitharena exchanges the MoU with Director and CEO of Union Bank Indrajit Wickramasinghe. SLT-Mobitel  and Union Bank officials look on.

Union Bank entered into an agreement with SLT-Mobitel recently to bring greater banking convenience to customers through Agent Banking services via SLT-Mobitel mCash - the innovative mobile money platform/wallet conceptualised by SLT-Mobitel and approved by the Central Bank of Sri Lanka.

Union Bank’s agent banking service will be offered islandwide through the reputed SLT-Mobitel mCash authorised retailer network and will provide customers a highly secure platform for banking services close to home which goes beyond traditional banking hours.

SLT-Mobitel mCash authorised retailer network will facilitate banking services for Union Bank customers at all SLT-Mobitel and Singer Mega branches island-wide with more approved retailers to be added in the future with focus on health guidelines in place. 

CEO of Mobitel (Pvt) Ltd., Chandika Vitharena said, “We are pleased to partner Union Bank to empower their customers, paving the way for cashless transactions via SLT-Mobitel mCash. As the National ICT solutions provider, we designed mCash with customer centricity in mind and as the country embraces digital transformation, we thrive to raise the digital payment standards with mCash by setting new heights thus helping to fast track the nation’s digital drive.”

Union Bank agent banking service is a simple process with no prior registration needed. The service offers convenience to customers by facilitating a selected range of banking transactions, which includes deposits to Union Bank savings accounts, Union Bank credit cards payments and Union Bank loan payments.

Director and CEO Union Bank, Indrajit Wickramasinghe said, “We are proud to partner with SLT-Mobitel mCash for this significant initiative for greater financial inclusion.  This collaboration will take digitalisation in the banking sphere to new heights and the partnership further fortifies Union Bank’s strong commitment towards providing continuous enhancements for a convenient and secure banking experience.”

SLT-Mobitel’s mCash has redefined the way consumers carry out transactions with the use of a mobile phone. mCash has experienced immense growth over the last few years with a large clientele and growing customer base that continues to expand countrywide.

mCash has transformed the mobile money concept in Sri Lanka by introducing innovative features, and constantly creating ways in which mCash can be more inclusive and adapted to customer lifestyles.  mCash offers services such as sending and receiving money, mobile reloads and bill payments, utility, insurance, finance and leasing payments, online, in-store shopping payments via QR which has been developed to LankaQR standards of Central Bank of Sri Lanka, bank deposits, loan and credit card repayments and digital loans where customer could apply and get a Loan from the mobile via mCash.

SLT-Mobitel’s mCash retailer network includes small corner shops to leading retail outlets adding up to over 25,000 retailer networks and touch points islandwide including Mobitel branches, SLT Teleshops, Singer showrooms, Lanka Bell, Pay & Go kiosks or top up mCash directly from the mCash App.

Union Bank is one of the fastest growing banks with 25 years of service and supported by the strength of the global investment firm TPG.

With a solid foundation etched with financial stability and international know-how, Union Bank is amongst the highest capitalized private commercial banks in Sri Lanka, offering a full range of products and services to Retail, SME and Corporate segments.