Source: CNA
SingCash is a new creation by SingTel. The company was created just couple of weeks back and goals seems to be 'me too' kind of focus. Why I'd think this is going to be a short term buzz,
1) M-Commerce - Consumer: We all know TELCO's tried very hard to entice consumers to purchase stuff using mobile phones (?) and WAP portals. This was 3G days and what can make this happen? I wouldn't bet on bigger screen or hsdpa speeds. It's the actual stuff and mobile or telco's are just plain access media only.
2) M-Commerce - Remittances: If singcash trying to partner with existing players, there is no unique value it can create for singtel group. If they want to go head-on with them, again I'd say they need to do their home work..
Most of the foreigners/residents who remit back home falls in to two categories. PMETS or workers. If you are a PMET the chances are very high that they'd use the internet banking and send money in thousands or hundreds. Here the interface & ease of use is the key.
For workers, its a different story. Western Union so far managed a fair share in the very low end market. Another popular way is the traditional bank draft. Why people use this is mainly due to the 'ease of access' at destination. By using western union the parents/spouses/dependants back home can get the money within their village or town and most of the times on the same day.
3) M-Commerce - Payment: No comments here. We've seen how well Starhub, Singtel did with NFC mobile phones and partnership with Ezlink & Nets.
If Google & Apple were to introduce the NFC stuff in their upcoming releases there will be momentum but how singcash can benefit from that is unknown and I don't have any +ve expectations about singcash here.
SingTel's wholly-owned subsidiary, SingCash has increased its share capital from SGD 1 to SGD 100,000 via the allotment and issue of 99,999 ordinary shares to SingTel Singapore. SingTel established the subsidiary earlier this month for mobile commerce related services, including mobile remittances and payments.
SingCash is a new creation by SingTel. The company was created just couple of weeks back and goals seems to be 'me too' kind of focus. Why I'd think this is going to be a short term buzz,
1) M-Commerce - Consumer: We all know TELCO's tried very hard to entice consumers to purchase stuff using mobile phones (?) and WAP portals. This was 3G days and what can make this happen? I wouldn't bet on bigger screen or hsdpa speeds. It's the actual stuff and mobile or telco's are just plain access media only.
2) M-Commerce - Remittances: If singcash trying to partner with existing players, there is no unique value it can create for singtel group. If they want to go head-on with them, again I'd say they need to do their home work..
Most of the foreigners/residents who remit back home falls in to two categories. PMETS or workers. If you are a PMET the chances are very high that they'd use the internet banking and send money in thousands or hundreds. Here the interface & ease of use is the key.
For workers, its a different story. Western Union so far managed a fair share in the very low end market. Another popular way is the traditional bank draft. Why people use this is mainly due to the 'ease of access' at destination. By using western union the parents/spouses/dependants back home can get the money within their village or town and most of the times on the same day.
3) M-Commerce - Payment: No comments here. We've seen how well Starhub, Singtel did with NFC mobile phones and partnership with Ezlink & Nets.
If Google & Apple were to introduce the NFC stuff in their upcoming releases there will be momentum but how singcash can benefit from that is unknown and I don't have any +ve expectations about singcash here.
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