Western Union Enhances Digital Offerings by Acquiring Innovative Mobile Wallet

Western Union has made a significant move by acquiring the mobile wallet service Dash from Singtel, a Singaporean telecommunications company. The financial details of the transaction have not been disclosed.
Dash wallet, which was launched in 2014, has enabled users in Singapore to engage in various financial activities, including payments, remittances, savings, investments, and insurance, all through a single platform.
This app is accessible to anyone in Singapore, regardless of their bank or telecommunications provider, and has a user base of over 1.4 million.
Sohini Rajola, who oversees Western Union’s operations in the Asia Pacific region, highlighted the company’s unique presence in Singapore, which combines digital services with physical locations to meet the needs of local citizens and residents.
Norway’s Central Bank is expected to decide on the implementation of a Central Bank Digital Currency (CBDC) next year.
On the other hand, Singtel stated that the sale is in line with its strategic focus on core business operations, reflecting broader trends in the telecommunications sector.
Despite the sale, Singtel remains active in the financial services sector. In 2022, it partnered with the local superapp Grab to launch GXS, Singapore’s first digital bank catering to both consumers and businesses. This partnership demonstrates Singtel’s commitment to leveraging digital innovation in the financial landscape.