Analysis of News Article on Dash Mobile Application

Mobile cash and banking service become popular and is a joint venture of technology and financial firms. In 3 June 2014, Singapore Telecommunication (SingTel) has teamed up with Standard Chartered Bank to launch a combined mobile commerce and banking service, Dash. (www.sbr.com.sg 2014). Dash enable customers to download cash into mobile phones to pay friends and businesses without the need to access an ATM.There was a predict that mobile cash will be replacedtraditional payment, the debit and credit card system in future.

The Pew Internet Project and Elon University’s Imagining the Internet Center invited experts and other Internet stakeholders to offer their predictions on the future of mobile payments, and what people’s wallets might look like in 2020. Some 65% agreed with the statement. (Smith, Anderson, Rainie, 2012). However rest of the survey respondents countered that consumers would fear for the security of financial transactions over a mobile device and worry about surrendering so much data about their purchasing habits (Sengupta, 2012).

Google launched "Google Wallet" in partnership with Citibank and MasterCard in Sep 2011, "Isis", which is rebranded to "Softcard" was introduced by AT&T, T-Mobile and Verizon here in Nov 2013 and Apple announced "Apple Pay" in Sep2014.

Consumer's behavior such as where they buy, when they buy and how they buy are influenced by social, personal, cultural and technology characteristic. Hence over time changing of those has a huge impact on consumers' habits, demand and buying behaviors. For instance, due to increased in number of smartphone users, a lot of consumers purchase and complete their transaction online via their smartphones on the go thus payment systems are needed to be more convenient than traditional payment, by cash or cards.

Changes in Social and lifestyle

Customers are using their phone to purchase not only music, e-books or movies also clothing and accessories, to book the flight tickets, to make reservation for the restaurant, to order a food delivery. That is why smartphones are played in daily lifestyle as a necessary and they become part of the humans.

Pew Internet surveys find that more than one-third of smartphone owners have used their phones to do online banking services like paying bills or checking a balance. In March 2012 Federal Reserve report found that 21% of mobile phone owners had used mobile banking services in the past year and that another 11% of mobile owners plan to use such services in the next 12 months.(Smith, Anderson, Rainie, 2012).Study by IDA in Singapore in 2012 shows that 17% of internet users used online banking service (IDA Singapore,2012).

According to a global study released by Google, Singapore is now the number one smartphone adopter in the world at 85% and Singapore was reported