Singtel and Western Union reach conditional agreement on Dash sale

Until these approvals are obtained, Dash customers will continue to have access to all current services. Dash is a mobile wallet service in Singapore that offers various functionalities, including payment, remittance, savings, investment, and insurance through a single application. 

According to the official press release, since its launch in 2014, Dash has gained over 1.4 million users and is accessible to individuals regardless of their telecommunications or banking affiliations. The sale is part of Singtel’s strategy to streamline its structure and portfolio, aiming to support innovation and growth prospects.

Agreement details

Officials from Singtel Singapore indicated that the decision to sell Dash aligns with the company's strategic focus on core competencies. They noted that Western Union is well-positioned to advance Dash's development, and they emphasised that Singtel will collaborate closely with Western Union to ensure that both Dash customers and business partners receive adequate support during the transition. 

Representatives from Western Union expressed enthusiasm about the acquisition of Dash and noted that the company is collaborating with Singtel to secure the necessary regulatory approvals. They pointed out that Western Union’s operations in Singapore integrate branded digital services with physical locations, providing a unique offering for residents. 

Dash has been recognised as one of Singapore’s most inclusive digital financial solutions. This transaction aligns with Western Union’s commitment to enhancing access to financial services for diverse populations globally. It also supports Western Union's Evolve 2025 strategy, which seeks to widen its financial ecosystem and double its digital business through innovation and scalable market investments.