remittance

Singtel offers mobile remittance service with personal insurance cover

SINGAPORE (July 25): Singtel is making its foray into the insurance market by rolling out Singapore’s first prepaid data plan and Dash mobile remittance service that comes with personal insurance cover, provided by NTUC Income and with premiums paid for by Singtel.

Currently, Singtel provides mobile connectivity to more than 60% of foreign workers in Singapore. This insurance coverage will complement the mandatory medical insurance that employers need to purchase for foreign workers.

Western Union launches co-located money transfer services at Singapore worker dormitories

SINGAPORE (Jan 17): Western Union has partnered Travelex, an independent foreign exchange (forex) and remittance business, to co-locate its money transfer services within five worker dormitories at Simpang, Mandai, Choa Chu Kang, Penjuru and Jalan Papan.  

With the addition of Travelex locations, Western Union’s retail network will increase to 80 locations.

Western Union mobile app launched in Singapore

SINGAPORE (Dec 18): Money remitter Western Union today announced the launch of its mobile app in Singapore – making it the third destination in Asia, after Hong Kong and Malaysia, where the app can be used for Western Union transactions.

Now available on the Google Play and Apple’s App Store, the app enables customers to transfer money to bank accounts worldwide, mobile wallets where available, or to Western Union’s Agent locations in more than 200 countries and territories.

Fintech's potential to tap the region's US$256 bil remittance industry

SINGAPORE (May 7): One out of every 10 people in Asia and the Pacific is directly affected by remittances, finds a study conducted by the International Fund for Agricultural Development (IFAD).

Based on the study’s key findings, almost 80 million migrants in the region remit money to their countries of origin to benefit an estimated 320 million family members, amounting to private financial flows that exceed more than 10 times net official development assistance (ODA) from all sources combined.

DBS launches online remittance service for non-banking customers

SINGAPORE (Apr 12): DBS Bank has announced the launch of SmartSend, an online remittance service that allows non-DBS customers to make same-day money transfers to eight markets around the world, namely: Australia, Hong Kong, India, Indonesia, Malaysia, Philippines, UK and the US.

See: DBS Smartsend

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