Western Union Digital Expands in Asia: Mobile App Now Live in Singapore
DENVER & SINGAPORE–(BUSINESS WIRE)–The Western
Union Company (NYSE: WU), a leader in cross-border, cross-currency
money movement, has launched the Western
Union® mobile app in Singapore, connecting customers to
their families and loved ones around the world, 24/7. Activation of the
app in Singapore has given Western Union a digital trifecta in Asia this
year, as Singapore now joins Hong Kong and Malaysia in benefiting from
Western Union’s digital acceleration of major regional economic centers
across the world.
Customers have the choice to send money directly into billions of bank
accounts worldwide, mobile wallets where available or to Western Union’s
more than half a million Agent locations in more than 200 countries and
territories, anytime and anywhere. Customers can pay for their
transactions within the app using a choice of card or account, and also
have the unique option to pay in-person at retail.
Singapore is a major hub for money movement and is the fourth largest
remitter in Asia after Hong Kong, Japan and Malaysia– remitting more
than USD6.1 billion last year, according to a report by IFAD titled RemitSCOPE
– Remittance markets and opportunities – Asia and the Pacific1.
It is propelled largely by its international standing as a popular
international labour market for professionals, offering both high and
low skill employment opportunities. According to the Global
Talent Competitiveness Index 20182 rankings by INSEAD,
Singapore ranks first in the region and second globally in attracting
and developing talent. In addition, its citizens enjoy familial
connections to nearly every country in the world. Last year Western
Union moved money into 175 countries from Singapore.
“We are delighted to introduce online money transfers in
Singapore, where a high level of digital connectivity has offered
consumers boundless possibilities to integrate mobile usage across
various aspects of their daily lives. In addition to enjoying seamless
digital money movement via the Western Union mobile app, we have also
integrated the option for customers to commence their transaction within
the app and pay for the transaction in person at retail,” said Odilon
Almeida, President, Western Union Global Money Transfer.
The capabilities of our platform today give us an unrivalled advantage –
a fully seamless digital offering or a hybrid of online and off-line.
This multi-channel capability utilizes our growing international bank
and wallet payout network and further monetizes our iconic retail
network. It positions us favourably, to serve a global customer base
with diverse preferences, like no other,” Almeida said.
Western Union has provided money transfer service in Singapore for more
than 15 years. Agent locations across the country offer customers the
opportunity to send and receive money in person, from all major cities
including small towns in remote areas.
According to the Singapore
Economic Development Board3, Singapore is already well on
its way to attaining the benefits of digitization, thanks to the
leadership of the Singapore government and the technological maturity of
its citizens, which has enabled the nation to readily adopt new
strategies for delivering more efficient and effective services. With
the initiation of the Smart
Nation4 programme, Singapore plans to drive adoption of
digital and smart technologies across the country.
WU-G
CUSTOMER GUIDANCE
In line with Monetary Authority of Singapore regulations, prior to the
first use of the online service and the app, customers are required to
register on the app. A verification email will be sent to the registered
email/phone number. Once confirmed, the customer can proceed to enter
his personal details and valid ID details. Acceptable IDs include
National Registration Identity Cards (NRIC), passports and driving
licenses. Customers can then proceed to verify their ID and details
through video chat with an agent or verify in-person at a Western Union
Agent location. Upon receipt of an email confirmation of their
successful account verification and activation, Western Union customers
can conveniently send money anytime, with a few clicks from their mobile
phones.
In addition to the convenience and reliability of sending money anytime,
the app (available for iOS
and Android
users) enables customers to estimate fees and foreign exchange rates for
online money transfers, track past and pending transactions, show payout
options available in the receivers’ country, and provide round-the-clock
customer service.
Customers can learn more on the app, or by calling the Singapore
hotline: +65 6336 2000 (for calls within Singapore), or writing an email
to SingaporeEnglish.customer@westernunion.com
(for support in English) or to SingaporeMandarin.customer@westernunion.com
(for support in Chinese), or in person at over 70 Western Union Agent
locations across the country.
About Western Union’s Cross-Border Platform
Western Union’s cross-border, cross-currency platform – including a
robust digital footprint, settlement, treasury and compliance
infrastructure, and a vast global network of over half a million
locations, and the ability to send money to billions of consumer
accounts and mobile wallets – sets the standard for international money
movement. With operations in 200 countries and territories, Western
Union’s platform processes an average of 32 transactions every second
and moves $300 billion a year across 130 currencies.
Connecting the digital and physical worlds of money, Western Union’s
technology stack, APIs, foreign exchange and settlement engine, agent
network, anti-money laundering and fraud detection capabilities make it
one of the largest digital and physical money movers for consumers
around the globe.
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.
1 International Fund for Agricultural Development (IFAD): https://www.ifad.org/documents/38714170/40286666/2018-05-01_RemitSCOPE_web_final.pdf/1c454276-4fd3-4feb-a8d8-24b4ef9353df
2 https://www.insead.edu/sites/default/files/assets/dept/globalindices/docs/GTCI-2018-report.pdf
Contacts
Media Contact:
Western Union Global Money Transfer
Pia
De Lima +1 9542605732
pia.delima@wu.com
or
Western
Union Middle East, Africa, Asia-Pacific
Ingrid Sahu, +971 4
437-3656 ingrid.sahu@wu.com
