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Western Union rolls out digital banking in Thailand
- 30 May, 2019 06:15
Western Union has launched an online international money transfer service in Thailand as part of digital expansion plans across Asia.
Billed as a “first for the sector”, customers in Thailand can now access worldwide 24/7 connection via the Western Union mobile app or transactional website.
The services have been launched in association with Central Department Store, one of the largest department store chains in Thailand and Western Union’s first agent in the country, providing global money transfers at their retail locations for nearly 25 years.
“The ability to smoothly and fluidly transfer money internationally by the latest digital means elevates our relevance to our customers across the world,” said Khalid Fellahi, senior vice president and general manager of Western Union Digital. “We use cutting-edge technology to simplify money transfer.
“Our systems automatically handle complexities from compliance to volatile currency exchanges so users can transfer money 24/7 to nearly every country across the world, with the touch of a few buttons.”
Western Union’s digital services in Thailand enable payout into billions of bank accounts worldwide in nearly 100 countries and territories, or to more than half a million agent locations across over 200 countries and territories.
Fellahi said customers can pay for transactions natively within the digital channels using a choice of card or account, or commence transactions on app or web and pay in-person at retail.
“Our collaboration with Western Union is focused on delivering customer centric solutions and services and enable convenient financial transactions,” added Montri Sithiyavanich, head of Financial Services, Central Group.
“Western Union’s innovation over time has built a powerful cross-border platform for moving money almost anywhere in the world in a matter of moments and we are delighted to work together and open up new choices and possibilities to move money reliably in many available formats - digital or cash, online or offline.”
The Thailand Board of Investment (BOI) has declared that the digital industry will be a "significant driver" of Thailand's economic transformation strategy, forming part of a ‘Thailand 4.0’ policy to create an economy driven by innovation and technology.
More than 57 million of Thailand’s 69 million population are internet users, bringing 82 per cent of the population online, according to a 2019 report by Hootsuite and We Are Social. In addition, there are more than 92 million mobile subscriptions in the country.