Western Union has teamed up with TenPay Global to launch a co-branded flagship remittance store in Singapore that links mobile initiation with in-person payment.
The partnership is part of a broader collaboration between the two companies and is Western Union’s first global deployment of this combined model.
At the People’s Park Complex outlet in Chinatown, customers can begin a transfer through the Weixin Mini Program before completing it at the counter in cash or via supported digital methods.
Stored sender and receiver details help reduce form filling and shorten processing time.
The store is one of Western Union’s 20 branches in Singapore and serves as the pilot site for the new approach.
TenPay Global is the cross-border payments arm of Tencent’s fintech division and provides business and consumer payment solutions across multiple markets.
Vince Tallent, Senior Vice President, Head of Asia-Pacific for Western Union, said,
“We are delighted to be partnering with Tencent, one of the world’s most innovative technology companies. During our 25 years of operating in Singapore, we have always had one priority: to serve our customers in the best way possible by connecting them to their families and loved ones with greater flexibility and trust.
We will always be where our customers want us to be. The strategic partnership with Tencent marks an exciting new chapter in our presence in the country, bringing together the two ecosystems in one innovative, seamless experience for our customers.”
Wenhui Yang, CEO of TenPay Global (Singapore) said,
“TenPay Global is excited to deepen its collaboration with Western Union to expand the reach of our cross-border payment capabilities. Through the Weixin and Mini Programs ecosystem, we are empowering digital transformation in offline remittances to enable users to enjoy a smoother, more connected, and efficient remittance experience.
By integrating digital innovation with Western Union’s extensive retail network and trusted global brand, we are bridging online and offline channels to make cross-border money transfers more inclusive, convenient, and accessible to everyone.”
Featured image: Edited by Fintech News Singapore, based on image by Freepik
