SINGAPORE: Singtel has signed a conditional agreement to sell Singapore’s leading all-in-one mobile wallet, Dash, to Western Union, as part of its efforts to simplify its portfolio.
In a released statement on Oct 24, Anna Yip, Singtel Singapore’s deputy CEO, reassured Dash users that they would continue to be supported throughout the transition.
She said, “In line with our Group’s Singtel28 strategy to focus on our core business and competencies, we have decided that Western Union is best placed to bring Dash to the next level. We will work closely with Western Union to ensure that our Dash customers and business partners continue to be well-supported and the transition is seamless.”
The Edge Singapore reported that the sale is still subject to regulatory approval, with no financial details disclosed.
Dash, launched in 2014, is an all-in-one mobile wallet app allowing users to pay, remit, save, invest, and insure. Dash has over 1.4 million users, and the app is available to anyone, regardless of their telco or bank provider. For now, all services will remain accessible to current users.
Western Union said that this move supports its Evolve 2025 vision and will help the company strengthen its global digital capabilities.
Sohini Rajola, Western Union’s Head of Asia Pacific, said, “We are excited to have the opportunity to welcome Dash to Western Union and are working collaboratively with Singtel to secure regulatory approvals.” /TISG