Western Union has announced plans to acquire Dash, a popular mobile wallet from Singaporean telecom company Singtel. The financial details of the deal were not disclosed. Launched in 2014, Dash allows users to pay, remit, save, invest, and insure from a single app and is available to anyone in Singapore, regardless of their telecom or bank provider. The platform currently has over 1.4 million users.
Sohini Rajola, Western Union‘s Head of Asia Pacific, stated that this acquisition will strengthen the company’s blend of branded digital services and physical locations across Singapore. Singtel, meanwhile, says the sale aligns with its strategy to refocus on its core business operations.
Despite the sale, Singtel remains active in financial services. In 2022, it partnered with local superapp Grab to launch GXS, Singapore’s first digital bank for consumers and businesses.