Left - Mrs. Sohini Rajola, Regional Vice President, South Asia and Indo-China
Right- Mr. Montri Sithiyavanich, Head of Financial Services, Central Group
THAILAND, MAY 29, 2019— As a part of its digital expansion plans across Asia, Western Union, a leader in cross-border, cross-currency money movement, broke new ground in Thailand with the launch of online international money transfer services in Thailand, a first for the money transfer 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 wu.com/th 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.
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.
“We are delighted to debut international digital money transfer services in Thailand as part of our digital expansion plans across Asia. Our strategy of a multi-channel approach is about servicing the widest group of customers who are multi-cultural, multi-generational with multiple purposes of sending money”, said Sohini Rajola, Regional Vice President, South Asia and Indo-China.
“Our inclusive innovation approach enables customers to access services online, via mobile app or in person at our retail network and also integrates our tenured Western Union Retail Agents.
“We are delighted to collaborate with the Central Department Store, our Agent of nearly 25 years to offer consumers boundless possibilities to integrate mobile usage across various aspects of their daily lives,” she said.
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 Thai 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 enables 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.