Global payment firm Western Union announced Wednesday that, following receipt of all required regulatory approvals, it has completed its acquisition of Dash (Singcash Pte. Ltd), the Singapore-based digital wallet previously owned by Singtel.
The acquisition marks Western Union’s first wallet in Asia-Pacific and represents a significant milestone in the company’s Beyond strategy to build wider, more connected send and receive networks globally, Western Union said in a statement.
By integrating Dash’s established wallet ecosystem in Singapore, Western Union expands its ability to embed cross-border capabilities into everyday financial experiences, connecting customers more seamlessly to its global network spanning more than 200 countries and territories.
Dash is a Singapore’s all-in-one mobile wallet that enables customers to pay bills, send money abroad, save, invest and insure.
Launched in 2014, Dash has grown to more than 1.4 million users and is available to everyone, regardless of their telco or banking relationship.
“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.
Gilbert Chuah, Head, Financial & lifestyle Services, International Digital Services, Singtel, said, Dash has been an important part of Singtel’s digital journey.
“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.
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