Western Union Expands Digital Services with New Mobile Wallet Acquisition

In a significant move, Western Union has announced its acquisition of the mobile wallet service Dash from the Singaporean telecommunications company Singtel, although the financial details of the transaction remain undisclosed.

Since its launch in 2014, the Dash wallet has empowered users in Singapore to conduct various financial activities, including payments, remittances, savings, investments, and insurance, all through a single platform.

The app is accessible to anyone in Singapore, irrespective of their bank or telecommunications provider, and boasts a user base exceeding 1.4 million.

Sohini Rajola, who oversees operations in the Asia Pacific for Western Union, emphasized the company’s unique presence in Singapore, combining digital services with physical locations to cater to the needs of local citizens and residents.

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Singtel, on the other hand, indicated that the sale aligns with its strategic focus on core business operations, a decision that reflects broader trends in the telecommunications sector.

Despite this sale, Singtel remains active in financial services; in 2022, it partnered with the local superapp Grab to launch GXS, Singapore’s first digital bank designed for both consumers and businesses. This partnership underscores Singtel’s commitment to leveraging digital innovation in the financial landscape.

Kostadin Dimitrov