Western Union has integrated its services with Valyou Mobile Wallet to expand its international money transfer services in Malaysia.
Valyou Mobile Wallet is a service offered by the Malaysian fintech unit of the Telenor Group, Valyou.
The integration of the services will allow clients in Malaysia to transfer funds to Western Union agent locations across Bangladesh, Indonesia, Philippines, India, Vietnam, Myanmar, Cambodia, China and Nigeria.
The platforms of the both companies have been integrated through Application Programming Interface (API) to facilitate fast transfer of money.
The Valyou mobile wallet is predominantly used by underbanked and financially underserved communities in the rural areas of Malaysia.
Valyou CEO Prasanna Rao said: “Today, Valyou sees a significant number of its transactions being sent from rural locations in Malaysia and this corresponds on the receiving side with 80% also residing in rural parts of their country.
“This collaboration doubles down on convenience to our Valyou wallet holders and their receivers, enabling them to now collect funds closer to their homes”, he said.
Western Union regional director for Philippines, Malaysia and Brunei Jeffrey Navarro said: “Through our collaboration with Valyou, we meet the ever-changing technology-led convenience preferences of our established customers as well as reaching out to the unbanked and underbanked communities, further expanding our access in rural Malaysia.
“We are delighted to share our vision of bettering lives and connecting the global economy together with Valyou.”