DFCC enhances ‘Virtual Wallet’ to serve customers better in a cashless era

Further strengthening its position as a benchmark in the digital banking space of Sri Lanka, DFCC, the bank for everyone, recently launched the enhanced version of the Virtual Wallet application for all Sri Lankans under the theme ‘You don’t need to touch cash to do your financial transactions’. 

Adding a wealth of new features which are set to foster higher levels of customer convenience, the application is among the most innovative digital platforms that allows trilingual financial transactions in the country. 

Building on the existing premise of the DFCC Virtual Wallet application, the enhanced application features a refreshed, user centric interface. In an effort to cater to every customer segment based on language, the application can be used in either Sinhalese, Tamil or English. Around 15 new groundbreaking features have been included, all aimed at creating a seamless customer experience. 

The DFCC virtual wallet gives customers the functionality of performing fund transfers between their own accounts and to other bank accounts/settling other bank credit cards using the Common Electronic Fund Transfer Switch (CEFTS) technology, all transfers are performed in real time, allowing for immediate credit. Additionally, customers have the option to top up their DFCC Virtual Wallet in order to make utility bill payments and insurance payments. Together with the over 140 DFCC ATMs and 45 CRMs island wide, the application also enables cardless withdrawals, driving customer convenience even further.

From checking balances across a customer’s entire portfolio including savings and current accounts, fixed deposits and loans, customers may also add their DFCC primary and supplementary credit card to the wallet. Through this feature, details such as the card limit, available balance, minimum payment due, payment due date, cashback rewards value, transaction details and statements pertaining to the previous three months can be viewed in the palm of the customer’s hand. 

DFCC encourages all customers/to make use of the Virtual Wallet as it is available for download on the Apple App Store and Google Playstore at no charge. Many onboarding options are available for customers; new to bank customers may download the app and click on the apply now feature, whereas existing customers can contact the call centre or use their debit card to self onboard. Prior to the onboarding process, any customer may also use the demo feature to familiarise themselves with the application’s interface. As the application complies with the safety regulations set by the Central Bank of Sri Lanka, customers need not worry about misplacement of funds or the theft of personal information.

The continuous updates of the DFCC Virtual Wallet application stand as a testament to DFCC’s value proposition to customers, convenience is the key. When analysing the efficacy and customer response to this application, it is clear that DFCC has succeeded in creating a strong usage value to increase the adoption of customer centric digital products. Revolutionising the digital banking sphere while providing customer convenience, the DFCC Virtual Wallet has put DFCC on a path that will lead to more developments and innovations in terms of digital banking. 

DFCC Bank CEO Lakshman Silva stated that DFCC Bank is a pioneer in the digital payment space through the DFCC Virtual Wallet which is now upgraded with host of benefits for both existing and potential customers of DFCC Bank. 

Furthermore, the Bank delivered its commitment to enhance lives by widening choices for smartphone users providing customers access to make payments and funds transfers from the convenience of their home. As a bank with a focus on digital transformation we are confident that the latest features of the Virtual Wallet will provide an utmost convenience and meet user expectations. Forging ahead towards becoming the most digitally enabled Customer Centric bank by 2025, DFCC Virtual Wallet will play a key role in the journey.