Western Union Expands with Online International Money Transfers in Malaysia
Western Union Mobile App and westernunion.com Now Live in Malaysia
DENVER & KUALA LUMPUR, Malaysia–(BUSINESS WIRE)–The
Western Union Company (NYSE: WU), a leader in cross-border,
cross-currency money movement, has launched online money transfers in
Malaysia via the Western
Union® mobile app and westernunion.com,
enabling customers to send money with a few clicks, 24/7, to almost
anywhere in the world.
Western Union’s digital services in Malaysia enable direct money
transfers for payout at Western Union’s retail network of more than half
a million agent locations in more than 200 countries and territories, or
directly into billions of bank accounts worldwide. Western Union is
fast-tracking its digital footprint across the world and today has
online services in more than 50 countries and territories.
“We are accelerating our digital presence to mirror our iconic retail
footprint globally and locally to offer customers multi-channel choice
to suit all their money transfer needs,” said Molly Shea, Senior Vice
President & General Manager, Global Money Transfer, Asia Pacific,
Western Union. “Our customers value us for our speed, convenience and
reliability in serving their money transfer needs – up until now,
offered through our wide retail footprint. We are pleased to take all of
these features and much more and offer our services at their fingertips
via our globally high star-rated mobile app or transactional web.
“Our customers still retain the choice to access 2,800 Western Union
Agent locationsi across the country to send money transfers
in person – this reflects our commitment to providing true choice and
more options to connect to their families and friends around the world,”
said Shea.
Western Union’s mobile app also enables customers who prefer paying for
their transactions in person to commence their transaction on the app
and then visit an agent location to complete their transaction more
quickly.
Customers can send up to RM3,000 per day and fund their transactions
online from their local internet banking accounts with FPX (Financial
Process Exchange) participating banks.
The advanced economy of Malaysia makes it a notable destination for
labor migrants from neighboring countries. According to the IMF,
Malaysia’s economy continues to perform strongly, and the country is
well on its way to achieving high-income status. On the domestic front,
Malaysia’s strong employment is boosting private consumption, and
investment is also helping to drive growthii.
Malaysia has a high smartphone penetration at 98 percentiii.
According to a study titled Unlocking
the Economic Impact of Digital Transformation in Asia Pacificiv
by Microsoft and IDC Asia/Pacific, by 2021, digital transformation will
add an estimated USD $10 billion to Malaysia’s GDP, and increase the
growth rate by 0.6 percent annually, factors that underscore the need
for convenient digital channels for cross-border money transfers.
CUSTOMER GUIDANCE
In line with Central Bank of Malaysia regulations, prior to the first
use of the online service and the app, customers are required to
register on www.westernunion.com/my.
Once the email address is verified, customers will be directed to enter
their valid ID details and upload a copy of the same ID. Acceptable ID’s
include a passport, government issued ID, driver’s license, residence
permit with photo, work permit with photo, emergency passport, UNHCR
Card, military/police/government ID or I-Kad.
After registration, to complete the initial transaction, customers
should input the amount to be sent and the destination country.
Customers can then choose the “pay in store” option, enter receiver
details, verify the information is correct and click send. Within 24
hours, customers can head to the most convenient location with the money
transfer control number (MTCN) and the same original valid ID used
during registration. In store, once the Western Union representative
verifies the original ID with the details online, the sender can proceed
to fund the transaction. The customer will be notified via email of
their successful verification. After the initial registration and
verification process, the customer can conveniently send Western Union
money transfers any time, with a few clicks, from their mobile phone or
online.
In addition to the convenience and reliability of sending money any
time, the website and app (available for iOS
and Android
users) enable customers to estimate fees and foreign exchange rates for
online money transfers, view past and pending transactions, view payout
options available in the receiver’s country, and access round-the-clock
customer service. Customers can also track money transfers online or
find a Western Union agent’s location where the money can be collected.
Customers can learn more on www.westernunion.com/my,
on the app, by calling the toll-free number: 1-800-81-3399, direct
dial-in: +85234080460, or writing to malaysia.customer@westernunion.com.
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border,
cross-currency money movement. Our omnichannel platform connects the
digital and physical worlds and makes it possible for consumers and
businesses to send and receive money and make payments with speed, ease,
and reliability. As of September 30, 2018, our network included over
550,000 retail agent locations offering Western Union, Vigo or Orlandi
Valuta branded services in more than 200 countries and territories, with
the capability to send money to billions of accounts. Additionally,
westernunion.com, our fastest growing channel in 2017, is available in
more than 50 countries and territories to move money around the world.
In 2017, we moved over $300 billion in principal in nearly 130
currencies and processed 32 transactions every second across all our
services. With our global reach, Western Union moves money for better,
connecting family, friends and businesses to enable financial inclusion
and support economic growth. For more information, visit www.westernunion.com.
i Network data as of September 30, 2018
ii https://www.imf.org/en/News/Articles/2018/03/07/NA030718-Malaysias-Economy-Getting-Closer-to-High-Income-Status
iii
http://www.nielsen.com/content/dam/nielsenglobal/my/docs/2018/Malaysian%20Media%20Landscape%202017%20-%20Snapshot.pdf
iv
https://news.microsoft.com/en-my/2018/02/06/digital-transformation-contribute-us10-billion-malaysia-gdp-2021/
Contacts
Western Union
Ingrid Sahu,
+9714 4373-656
ingrid.sahu@westernunion.com
