KUALA LUMPUR: Digi.Com Bhd has launched vcash, a mobile payment application offering an easy, more convenient way to pay, send, request and store money in smartphones. 

It is offered in partnership with Valyou Sdn Bhd, an e-money insurer authorised by Bank Negara, and available to all Malaysians on Google Play or Apple App Store for free.

Digi chief digital officer Praveen Rajan said vcash offers a transaction fee rate of 0.8%, which is lower compared to others.

He said vcash is available at 500 physical touch points nationwide as of Thursday, and plans to grow this number to 2,000 by year end.

There are over 80 merchants participating in the payment application as at the launch.

Praveen added that you don't have to be a Digi subscriber to use vcash; anyone can use it as long as they have a smartphone.