19 February 2017
Visit EBAday.com

Western Union to launch mobile remittance service in Malaysia

05 October 2009  |  9836 views  |  0 iPhone on top of Keyboard

Western Union is partnering with Malaysian telco Maxis to launch a cross-border mobile money transfer service targetting the country's 1.9 million foreign workers.

With the launch of the service in early 2010, more than 11 million Maxis subscribers in Malaysia will be able to send funds from their mobile phones. The recipient will be able to pick up the funds in cash at more than 345,000 Western Union Agent locations in 200 countries.

The joint service with Maxis will mark the first time that Western Union has enabled mobile money transfer transactions from a mobile phone outside the United States.

In 2008, more than US$6.4 billion (RM22.3 billion) in remittances was sent out of Malaysia. Many of these remittances were sent by the estimated 1.9 million foreign workers living in Malaysia - largely Indonesians, Filipinos, Bangladeshis, Nepalese and Vietnamese.

Matt Dill, SVP and head, Western Union Digital Ventures, comments: "International immigrants living in Malaysia send money home to loved ones around the world anywhere from five to 15 times a year. This segment of the population also has high mobile phone penetration rates - more than 90% for all migrant groups."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Cgap calls on mobile remittance operators to move into savings market

Cgap calls on mobile remittance operators to move into savings market

30 September 2009  |  9015 views  |  0 comments
MoneyGram ordered to pay Western Union $16.5m in patent case

MoneyGram ordered to pay Western Union $16.5m in patent case

25 September 2009  |  8958 views  |  0 comments
Sibos targets remittance failings

Sibos targets remittance failings

16 September 2009  |  4748 views  |  0 comments
Swift rolls out workers' remittances platform

Swift rolls out workers' remittances platform

08 September 2009  |  6530 views  |  0 comments
China's ICBC signs for Swift workers' remittance service

China's ICBC signs for Swift workers' remittance service

17 August 2009  |  4748 views  |  0 comments
Fifth Third joins Western Union money transfer network

Fifth Third joins Western Union money transfer network

20 July 2009  |  6130 views  |  0 comments
Celcom and Sybase 365 team on Malaysian mobile money transfers

Celcom and Sybase 365 team on Malaysian mobile money transfers

17 June 2009  |  5546 views  |  0 comments
Western Union malware attack launched

Western Union malware attack launched

29 May 2009  |  9075 views  |  2 comments
Western Union, CPS and VeriSign pilot mobile bill payment service

Western Union, CPS and VeriSign pilot mobile bill payment service

30 April 2009  |  8791 views  |  0 comments
Recession to hit mobile remittance market - Juniper

Recession to hit mobile remittance market - Juniper

05 February 2009  |  6238 views  |  0 comments
MasterCard signs first Asian bank to MoneySend remittance programme

MasterCard signs first Asian bank to MoneySend remittance programme

12 November 2008  |  9715 views  |  0 comments
Western Union to extend mobile remittance network with Orascom

Western Union to extend mobile remittance network with Orascom

20 October 2008  |  8262 views  |  0 comments
Western Union pilots mobile remittance systems in the Philippines

Western Union pilots mobile remittance systems in the Philippines

30 January 2008  |  10856 views  |  0 comments
Western Union and Bharti Airtel to pilot mobile remittance system

Western Union and Bharti Airtel to pilot mobile remittance system

30 November 2007  |  8367 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit capgemini.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
13614 views 11 comments | 48 tweets | 79 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
9978 views comments | 21 tweets | 18 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9339 views comments | 48 tweets | 55 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
8765 views comments | 15 tweets | 11 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
7482 views comments | 16 tweets | 12 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job