convertCASH launches ‘Monthly Bills Pay-Later’ service on mobile app

By Leandra Monteiro

convertCASH, Singapore’s first scalable FinTech powered “Monthly Bills-Pay Later (MBPL) + Global Cash Reward Eco Platform”, announced the launch of its mobile application that revolutionises user’s monthly cash inflow and outflow as well as enhances users’ cash flow capabilities by allowing them to stretch their cash reserves and pay their monthly personal and business expenses, with an extension of up to 45 days without any interest.

With the COVID-19 pandemic, monthly fixed bills have become a burden for many with approximately 83 million people constantly applying for micro loans in Asia Pacific each month.  convertCASH aims to help communities with cash flow issues and change the way they pay their monthly bills, and unleash the benefits of New Internet finance such as “loan-free and interest-free” benefits to those who have monthly personal expenses from car to home instalment payments and business expenses from retail to office rental payments. On top of that, users will have the ability to gain benefits from the Virtual (Internet) Economy such as earning and redeeming loyalty points, as well as receiving extra monetary rewards when introducing the app to a friend.

Co-Founder of convertCASH Singapore, Kelvin Chua said, “We are excited to deliver even more value to our new and existing users with our services, and hope to ease users’ monthly personal and business expenses. Traditionally, users would have to borrow money from friends and family if they do not have enough cash for their monthly personal and business expenses. Now, they just need to fill in their details in a convertCASH app & their bills payment will be settled within 1 or 2 working day. We’re heartened and excited to reach out to even more Singaporeans, allowing them to seamlessly initiate payment from our mobile application.”

convertCASH’s “We Pay for You First” feature helps to settle a user’s monthly personal and business expenses first, on their behalf, within one or two working day. Users seamlessly initiate payment within minutes all from the convertCASH mobile app. With the platform’s instant approval and zero-risk approach, users can enjoy free credit extensions up to 45 days, reducing the hassle of traditional loan application and instalment processes.

The mobile application platform also boasts features such as a bill payment tracker, cash flow management chart, cost & earning calculator, and credit scoring membership. This is to help users plan and organise their cash flow with the integration of the Internet economy and traditional economy.

“2021 is shaping up to be an exciting year for convertCASH. We’re looking forward to growing exponentially and reaching even more users in the Southeast Asia region. Our ‘We Pay for You First’ approach brings instant added value and will be a significant disruptor in the Fintech space. Our team is well-prepared to realise and embrace the fullest potential of the emerging global digital economy,” said Mr Chua.

convertCASH’s upcoming partnership with MasterCard will feature a co-branded card that adds value and looks after the user’s cash inflow. Currently connected to a licensed payment gateway, Stripe, their services are secure and verified. Additionally, convertCASH is transitioning to a fully licensed business model under the Monetary Authority of Singapore (MAS), consistent with its long-term brand elevation strategy.