Western Union Expands Money Transfer Services in Singapore with Travelex

Regional News By Karen Santos January 15, 2019

Retail Services Co-located Within Worker Dormitories Enabling Door-step Convenience

SINGAPORE, January 15, 2019 – Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement, in collaboration with Travelex, a leading independent foreign exchange and remittance business, has co-located Western Union®money transfer services within worker dormitories across Singapore, bringing door-step convenience to customers wishing to send money to family and loved ones in more than 200 countries and territories.

The collaboration will see Western Union services co-located within five dormitories in the areas of Simpang, Mandai, Choa Chu Kang, Penjuru and Jalan Papan, providing choice for customers to send money directly into billions of bank accounts across the globe or receive in person via the company’s more than half a million retail Agent locations. With the addition of Travelex locations, Western Union’s retail Agent network will increase to 80 locations, facilitating convenient access across Singapore.

Molly Shea, Senior Vice President and General Manager, Global Money Transfer, Asia Pacific, Western Union, commented: “Our strategy is about bringing finger-tip or door-step convenience to our customers. We are delighted to collaborate with Travelex, to bring unparalleled convenience and access to our money transfer services for our customers in Singapore”.

Western Union has recently launched online money transfers in Singapore via the Western Union® mobile
app, connecting customers to their families and loved ones around the world, 24/7. The 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 across the globe, 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.

Western Union has provided money transfer services in Singapore for more than 15 years

According to a report by IFAD titled RemitSCOPE – Remittance markets and opportunities – Asia and the Pacific1 published last year, Singapore was highlighted as one of the key major destination countries for migrant workers and the fourth largest remitter country in Asia after Hong Kong, Japan and Malaysia – remitting more than USD $6.1 billion in 2017. These statistics highlight the importance of creating multiple remittance points in Singapore to meet the demand for remittance services from migrant workers.

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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.