The international payment company Western Union declared on Wednesday that it has successfully acquired Dash (Singcash Pte. Ltd), the digital wallet based in Singapore that was previously owned by Singtel, after obtaining all necessary regulatory approvals.
According to a statement from Western Union, the acquisition is the company’s first wallet in Asia-Pacific and a major step toward its Beyond strategy, which aims to create more extensive and interconnected send and receive networks worldwide.
By incorporating Dash’s well-established wallet ecosystem in Singapore, Western Union increases its capacity to incorporate cross-border features into regular financial transactions, facilitating more seamless customer connections to its global network that spans more than 200 countries and territories.
Customers in Singapore can use Dash, an all-in-one mobile wallet, to pay bills, send money overseas, save, invest, and get insurance.
Since its 2014 launch, Dash has amassed over 1.4 million users and is accessible to all, irrespective of their banking or telco affiliation.
“By combining Dash’s local innovation and trusted customer relationships with Western Union’s global network and digital platform, we are expanding how, where, and when we serve our customers,
“Together, we will be better positioned to meet them in the moments that matter — whether they are sending money across borders, managing everyday payments, or accessing financial services digitally — and to deliver more seamless, convenient, and reliable experiences that truly support their needs,” said Vince Tallent, Head of Asia–Pacific for Western Union.
Dash has played a significant role in Singtel’s digital transformation, according to Gilbert Chuah, Head, Financial & Lifestyle Services, International Digital Services, Singtel.
“As it enters its next phase with Western Union, we are confident that its strong local foundation, combined with Western Union’s global scale, will unlock greater value for customers,” he added.
