Western Union Acquires Singapore’s Mobile Wallet Dash From Singtel

Singapore’s telecom giant Singtel has reached an agreement to sell its mobile wallet, Dash, to Western Union, a United States financial services company. The sale is part of Singtel’s business strategy to simplify its operations. The deal is still pending and requires government approval to be completed.

For now, Dash will keep working as usual for its 1.4 million users. Singtel has told customers they can still use Dash without any changes while the companies work on the sale. There will not be any new changes during this time.

Dash Mobile Wallet Gains Popularity in Singapore

Since its launch in 2014, Dash has become a favorite mobile wallet in Singapore. It lets people send money, process payments, save money, invest, and get insurance. Singtel earlier revealed that Dash is easy for anyone to use, no matter their bank or phone provider.

Anna Yip, the Deputy Chief Executive Officer of Singtel Singapore, said the sale is in line with the company’s plans. She added that Western Union can help Dash grow even more, which will benefit both companies. She noted that Singtel will keep working with Western Union to support Dash’s users and business partners.

Yip revealed that Singtel wants the transition to be easy for everyone, so customers do not face any problems. This deal fits with Western Union’s goal to provide financial help to people in many countries. The company wishes to ensure its services are simple for everyone to use.

Western Union Aims To Double Its Services In The Future

According to the news, the new purchase is part of Western Union’s big plan known as Evolve 2025. The company wants to grow its digital business. It plans to offer more products and explore new markets. It hopes to double its digital services soon.

Sohini Rajola, the leader of Western Union in the Asia Pacific region, said the company is very happy to buy Dash. She noted that the firm is working with Singtel to get the approvals needed to finalize the agreement.

Evercore Asia (Singapore) is assisting Singtel with this sale and providing important advice, according to the update. Earlier this year, Western Union partnered with Mercado Pago, a digital wallet. This lets people in Canada and the United States send money to Mexico using the Western Union app or website.

Western Union is a big company that helps people send money around the world. The company stated that it has gone through some challenges in the money transfer industry, but it remains competitive. It operates in more than 200 countries and is worth over $4 billion.