Kuala Lumpur, 23 July 2019 – Western Union, a global leader in cross-border, cross-currency money has expanded international money transfer services in Malaysia by integrating its services with the Valyou Mobile Wallet, a service offered by Valyou, a Malaysian financial technology subsidiary of the Telenor Group.
A strategic collaboration between the two companies will enable customers in Malaysia to send money to Western Union® agent locations across Bangladesh, Indonesia, Philippines, India, Vietnam, Myanmar, Cambodia, China and Nigeria, with a few clicks using the Valyou mobile wallet.
Customers will benefit from fast transfers with both platforms integrating through Application Programming Interface (API).
The Chief Executive Officer of Valyou, Prasanna Rao said the collaboration with Western Union is a key enabler in expanding funds payout to a wide network of countries.
“Today, Valyou sees a significant number of its transactions being sent from rural locations in Malaysia and this corresponds on the receiving side with 80% also residing in rural parts of their country. This collaboration doubles down on convenience to our Valyou wallet holders and their receivers, enabling them to now collect funds closer to their homes,”Prasanna Rao, Chief Executive Officer of Valyou
The Regional Director of Western Union in Philippines, Malaysia and Brunei, Jeffrey Navarro believes the collaboration led to ever-changing technology-led convenience preferences of their customers and reaching out to the unbanked and underbanked communities.
The Valyou mobile wallet is popular in the rural areas of Malaysia bridging services in largely underbanked and financially underserved communities. Cashing in funds is made via Valyou’s 1,500 wallet Cash In Cash Out merchant locations.