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
3
https://www.edb.gov.sg/en/news-and-resources/insights/innovation/government-leads-digital-disruption-in-singapore.html
4 https://www.smartnation.sg/
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version on businesswire.com: https://www.businesswire.com/news/home/20181218005035/en/
Media Contact:Western Union Global Money
TransferPia De Lima +1 9542605732pia.delima@wu.comorWestern
Union Middle East, Africa, Asia-PacificIngrid Sahu, +971 4
437-3656 ingrid.sahu@wu.com
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