Western Union acquires Singtel’s mobile wallet Dash
Western Union has entered into a conditional agreement to acquire Dash, a mobile wallet operated by Singapore-based communications technology group Singtel, for an undisclosed sum.
Western Union acquires Singtel’s Dash
Launched in 2014, Dash allows users to pay, remit, save, invest, and insure from within a single app.
Currently serving over 1.4 million customers, the app facilitates money transfers to more than 35 countries.
The sale of Dash is “part of Singtel’s ongoing measures to simplify its structure and portfolio to boost innovation and growth opportunities”, according to a statement from Western Union.
This is echoed by Singtel Singapore deputy CEO Anna Yip, who says the move is “in line with our Group’s Singtel28 strategy to focus on our core business and competencies”.
Western Union adds that Dash customers “will continue to have access to all existing services” throughout the transition period, a timeline for which has not been disclosed. The conditional agreement remains subject to regulatory approval.
Headquartered in Denver, Western Union operates cross-border and cross-currency financial services, including payments, money transfers and digital solutions, in over 200 countries and 130 currencies.
The corporation states the purchase of Dash is in line with its Evolve 2025 strategy to “expand its financial ecosystem”.
In 2022, Western Union strengthened its portfolio and entered the Latin American market by acquiring the Brazilian digital wallet Te Enviei for an undisclosed sum.
