Western Union has struck a deal to buy mobile wallet Dash from Singaporean telco Singtel. Financial terms were not disclosed.
Launched in 2014, the Dash wallet lets users pay, remit, save, invest and insure from one app. Open to anyone in Singapore, regardless of their telco or bank provider, it has over 1.4 million users.
Sohini Rajola, head, Asia Pacific, Western Union, says: "Our business in Singapore is a unique blend of branded digital services and owned locations, serving citizens and residents across the country."
Singtel says the sale - subject to regulatory approval - is part of its strategy of focusing on its core business.
The company does still operate in financial services: in 2022 it teamed up with local superapp Grab to launch GXS, Singapore's first digital bank for consumers and businesses.