DigitalCFO Newsroom | 10 November 2021
Western Union, a global leader in cross-border, cross-currency money movement and payments has partnered with Singtel’s Dash to enable international money transfers digitally for Dash’s customers in Singapore. A Memorandum of Understanding (“MOU”) was signed on October 14, 2021, between Western Union and SingCash Pte Ltd. (“SingCash”), representing Singtel Dash.
Dash is Singtel’s all-in-one mobile wallet, offering in-store as well as online payment solutions for customers. For the first time, Western Union’s digital money transfer capabilities will be integrated with a mobile wallet in Singapore with the transaction experience all native within the Dash app, offering enhanced convenience to Dash customers. After the definitive agreement is signed and integration completed, the service will be introduced in phases, enabling Dash customers in Singapore to seamlessly send money around the world, starting with India and eventually scaling up to the wide scope and reach of Western Union’s global payout network.
Singapore is a vital economic hub, bringing people together from across the Asia Pacific region and lifting them toward prosperity. International migrants working and living in Singapore represent a significant part of the population; this, coupled with the accelerated adoption of digital channels, provides an incredible potential to meet the evolving needs of these individuals as they support their loved ones back home.
“At Western Union we believe that innovative payment solutions should be customer driven,” said Western Union Head of Middle East and Asia Pacific, Sohini Rajola, during the official unveiling at Singapore Fintech Festival on November 8, 2021. “Western Union innovates like an entrepreneur. As a 170-year-old company operating in the fintech space, we have learned that the mindset of an entrepreneur is ageless. The global reach and scale of our business, powered by technology and innovation, has uniquely positioned us to create a truly inclusive platform. Today, we are excited to partner with Singtel Dash, powering our tech-focused strategy to enable customers to reliably and conveniently complete financial transactions with just a few clicks.”
Rajola added, “It’s an honor to work as like-minded companies, inspiring each other with innovative thinking and concepts for building a cross-border financial ecosystem that addresses consumer needs, both today and tomorrow.
Gilbert Chuah, Head of Financial and Lifestyle Services at Singtel said, “Since the onset of COVID, digital payment use has risen, with people performing more transactions digitally from the safety of their home. Our partnership with Western Union answers to our customers’ demand for a simpler and more convenient way to send money internationally. We are building Dash to be the all-in-one wallet, so that our customers can conduct their daily transactions easily on a single app. As payment technology evolves, we will be looking to enable even more innovation on the Dash app and bring more value to our Dash customers.”
Western Union’s strategy to open its platform and worldwide financial network to serve third-party companies has established it as a unique partner for global money movement, enabling organizations in telecommunications, technology, financial services and other sectors to enhance services for their customers. The Company offers a unique platform with a global scale and local market knowledge to enable international payouts into billions of bank accounts and millions of wallets and cards, across more than 125 countries and territories, with real-time capabilities in 100 of these countries. Additionally, it also offers payout in cash in approximately 600,000 retail locations in 200+ countries and territories.