Western Union has announced its acquisition of the mobile wallet Dash from Singaporean telecommunications company Singtel, although financial details of the deal have not been disclosed.
Launched in 2014, the Dash wallet enables users to pay, remit, save, invest, and insure all through a single app. It is accessible to everyone in Singapore, regardless of their telco or bank provider, boasting over 1.4 million users.
Sohini Rajola, head of the Asia Pacific region for Western Union, stated, “Our business in Singapore is a unique blend of branded digital services and owned locations, serving citizens and residents across the country.”
Singtel mentioned that the sale, pending regulatory approval, aligns with its strategy to concentrate on its core business. However, the company continues to operate in the financial services sector; in 2022, it partnered with local superapp Grab to launch GXS, Singapore’s first digital bank catering to both consumers and businesses.