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Karen Santos 2019-7-23

Western Union Expands in Malaysia with Valyou Mobile Wallet

Customers can now send money from wallet to Bangladesh, Indonesia, Philippines,
India, Vietnam, Myanmar, Cambodia, China and Nigeria

Kuala Lumpur, 23rd July 2019 – Western Union, a global leader in cross-border, cross-currency money has expanded international money transfer services in Malaysia by integrating its services in the Valyou Mobile Wallet, a service offered by Valyou, a Malaysian financial technology subsidiary of the Telenor Group.

A strategic collaboration between the two companies will enable customers in Malaysia to send money to Western Union® agent locations across Bangladesh, Indonesia, Philippines, India, Vietnam, Myanmar, Cambodia, China and Nigeria, with a few clicks using the Valyou mobile wallets. Customers will benefit from fast transfers with both platforms integrating through Application Programming Interface (API).

The Valyou mobile wallet is popular in the rural areas of Malaysia bridging services in largely underbanked and financial underserved communities. Topping up funds is made via 2,400 wallet top-up merchant locations.

“With Valyou being a leader in the International Remittance Mobile Wallet space with a large network base penetrating the rural and underserved areas in Malaysia; and with Western Union, a global leader in cross-border, cross-currency money movement, having a large number of locations in the receiving countries, this union offers a convergence of convenience for both, senders and receivers,” said Prasanna Rao, Chief Executive Officer of Valyou.

“This collaboration is a key enabler in expanding funds payout to a wide network of countries. We are always driven to provide a seamless experience for customers. This collaboration doubles down on convenience to our Valyou wallet holders and their receivers, enabling them to now collect funds closer to their homes”, he said.

“We stand for convenient money movement, serving global citizens to help build bridges across economies, geographies and cultures. Through our collaboration with Valyou, we meet the ever-changing technology-led convenience preferences of our established customers as well as reaching out to the unbanked and underbanked community, further expanding our access in rural Malaysia. We are delighted to share our vision of bettering lives and connecting the global economy together with Valyou,” stated Jeffrey Navarro, Regional Director – Philippines, Malaysia and Brunei, Western Union.

For more information on this collaboration, visit https://www.valyou.com.my/ and https://www.westernunion.com/my/en/home.html.

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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.

ABOUT VALYOU

Valyou is a Malaysian financial technology subsidiary of Telenor Group licensed and regulated as a money services business (MSB) and approved to issue e-money by Bank Negara Malaysia. Its advanced technology and international network enable anyone in Malaysia to easily and quickly send money overseas. Headquartered in Kuala Lumpur, Valyou has 24 branches and over 2,000 cash-in-cash-out merchants nationwide.

ABOUT TELENOR GROUP

Telenor Group connects its 178 million customers to what matters most. Connecting the world has been Telenor’s domain for more than 160 years and we currently operate in 12 markets across Scandinavia, Central Eastern Europe and Asia. Our 30,000 employees are committed to responsible business conduct and driven by the ambition of empowering societies.

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