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Western Union has struck a deal to purchase cellular pockets Sprint from Singaporean telco Singtel. Monetary phrases weren’t disclosed.
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This content material has been chosen, created and edited by the Finextra editorial group based mostly upon its relevance and curiosity to our group.
Launched in 2014, the Sprint pockets lets customers pay, remit, save, make investments and insure from one app. Open to anybody in Singapore, no matter their telco or financial institution supplier, it has over 1.4 million customers.
Sohini Rajola, head, Asia Pacific, Western Union, says: “Our enterprise in Singapore is a novel mix of branded digital companies and owned areas, serving residents and residents throughout the nation.”
Singtel says the sale – topic to regulatory approval – is a part of its technique of specializing in its core enterprise.
The corporate does nonetheless function in monetary companies: in 2022 it teamed up with native superapp Seize to launch GXS, Singapore’s first digital financial institution for shoppers and companies.
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