Telenor adds mobile money in Malaysia - Mobile World Live

Telenor adds mobile money in Malaysia

17 NOV 2016

Malaysia became the latest Asian market in which Telenor launched mobile financial services, this time via a provider called Valyou.

Valyou’s service is available through a mobile wallet app, initially on Android with iOS to follow. It is open to non-Telenor subscribers too.

In May 2016, Telenor acquired Prabhu Money Transfer, a licensed money services business in Malaysia that provides multi-country international remittance services. It has been rebranded as Valyou.

Telenor is leveraging Prabhu’s distribution channels, experience and recently approved licence to issue e-money. In addition to remittance, Valyou gives unbanked users somewhere to store their cash.

The company already offers financial services alongside its existing mobile services in Bangladesh, Myanmar and Pakistan.

The cross-border remittance service enables money transfers from Malaysia to seven countries globally.

Tine Wollebekk, SVP and head of financial services in Telenor Group, added; “Our ambition is to explore end to end digital remittance to all relevant corridors, including both Telenor’s own financial services markets – such as Pakistan, Bangladesh or Myanmar – but also to other countries that are important for the local migrant community.”

Telenor is repurposing the Valyou brand that it previously used for an unsuccessful NFC-based payment service in Norway, which it shuttered a year ago.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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