DENVER & BANGKOK--(BUSINESS WIRE)--
Western Union Led Digital Services in Thailand – a First for the Money Transfer Sector
As a part of its digital expansion plans across Asia, Western Union (WU), a leader in cross-border, cross-currency money movement, broke new ground in Thailand with the launch of online international money transfer service in Thailand, a first for the sector.
Customers in Thailand can now connect with their families and loved ones around the world, 24/7, via the Western Union® mobile app or transactional Westernunion.com/th. 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.
Western Union’s digital services in Thailand enable payout into billions of bank accounts worldwide in nearly 100 countries and territories, or to Western Union’s more than half a million Agent locations in more than 200 countries and territories. Customers can pay for their transactions natively within the digital channels using a choice of card or account, or commence their transaction on app or web and pay in-person at retail.
“The ability to smoothly and fluidly transfer money internationally by the latest digital means elevates our relevance to our customers across the world. 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,” said Khalid Fellahi, SVP and General Manager, Western Union Digital.
The Thailand Board of Investment (BOI)1 has declared that the digital industry will be a significant driver of Thailand's economic transformation strategy and Western Union’s digital services aligns with the government's ‘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 percent of the population online, according to a 2019 report by Hootsuite and We Are Social2. In addition, there are more than 92 million mobile subscriptions in the country.
“Our collaboration with Western Union is focused on delivering customer centric solutions and services and enable convenient financial transactions. 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,” said Montri Sithiyavanich, Head of Financial Services, Central Group.
In line with The Bank of Thailand regulations, prior to the first use of the online service and the app, customers are required to register on www.wu.com/th. Once the registration is complete, customers can head to any of the Central Department Store locations for identity verification. Acceptable ID’s include passports or driving licenses or any other Government Issued ID’s. Once the profile is verified, Western Union customers can conveniently send money anytime, with a few clicks from their mobile phones.
In addition to the convenience and reliability of sending money anytime, the app (available for iOS and Android users) enables customers to estimate fees and foreign exchange rates for online money transfers, track past and pending transactions, show payout options available in the receivers’ country, and provide round-the-clock customer service.
About Western Union
The Western Union Company (WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2019, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in approximately 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
About Central Department Store
Central Department Store has been instrumental in the improvement of many lives through money transfer from 20 years back, connecting generations of families and their loved ones, providing them relief and joy in many different situations. For over seven decades, the Central Department Store has been synonymous with excellence in shopping and is widely acknowledged as Thailand’s most trusted and recognized retail brand. Since Central became first agent of WU, we have been a longtime favorite among Thais, as well as discerning tourists and expatriates. The reputation of Central Department Store is the result of an unwavering commitment to maintaining unparalleled customer services. For more information, visit www.centralwesternunion.com.