As part of its digital expansion plan for Asia, Western Union has joined with Central Group to launch online international money transfers in Thailand.
Sohini Rajola, regional vice-president for South Asia and Indochina, said during a visit to Thailand yesterday that after building on the success of Western Union's digital platforms in North America and Europe, the company is expanding across the Middle East, Latin America and Asia.
The trend signals Western Union's deep commitment to keeping the Asia-Pacific region at the forefront of the digital revolution.
The company has launched the Western Union mobile app and wu.com/th website, providing global money transfers in Thailand via an association with Central Department Store.
Western Union's digital services align with the government's Thailand 4.0 policy to create an economy driven by innovation and technology, Mrs Rajola said.
More than 57 million of Thailand's 69 million people use the internet, up to 82% of the population, according to a 2019 report by Hootsuite and We Are Social. Mobile subscriptions exceed 92 million.
Western Union's digital services are offered in about 70 countries, plus additional territories. The mobile app is operative in more than 35 countries.
The company expects its new online service to extend to more than 200 countries by 2020.
Western Union's digital services in Thailand enable payout into billions of bank accounts worldwide in nearly 100 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 the app or web and pay in-person at retail. The company charges a 99-baht fee during the promotional period.
"We are delighted to debut international digital money transfer services in Thailand as part of our expansion plans across Asia," Mrs Rajola said. "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."
Montri Sithiyavanich, Central's head of financial services, said the group has been the agent of Western Union for 25 years, serving customers in Thailand by sending and receiving money across borders through a network of more than 6,000 locations in partnership with banks, Central Department Store and Thailand Post.
"We prepared ourselves for two years for these services," he said.
