Singapore's M1 has launched an enhanced mobile remittance service named M1 Remit that uses the MyInfo government digital authentication service.
M1 Remit has become the first mobile remittance service to use the MyInfo authentication solution, which is designed to allow SingPass users to manage the use of their personal data while transacting with government agencies online.
Implementing the authentication service will allow seamless electronic know your customer (eKYC) functionality for the enhanced remittance service.
M1 has also raised the number of supported remittance destinations to ten with the introduction of Vietnam.
The service also supports remittance to Bangladesh, India, Indonesia, Malaysia, Myanmar, Pakistan, Philippines, Sri Lanka and Thailand.
The operator has made the service available to both M1 and non-M1 mobile customers in Singapore. M1 remit supports cashing out from over 40,000 cash agents and 729 banks across the ten countries within in as little as an hour from the transaction.
“We are delighted to be the first mobile remittance service provider to offer an end-to-end digital money remittance experience with the introduction of the MyInfo within our mobile app,” M1 chief innovation officer Alex Tan said.
“The enhanced M1 Remit service will enable even more customers to enjoy greater convenience in digital transactions.”