Banking group Maybank signed a deal with Western Union to launch digital remittance services in Malaysia through its Maybank2u mobile app.
The new service enables Maybank’s mobile customers to transfer money directly to Western Union agents across 200 countries and territories, up to a total of MYR10,000 ($2,235) per day.
In an announcement, Maybank claimed the service is the first of its kind available in the country.
Western Union VP for key initiatives in the region, Bassem Awada (pictured above left) said: “This mobile banking app not only grows our relationship with Maybank, but also strengthens our position in Malaysia’s cross-border money transfer market.
“The combination of Maybank’s strong presence in digital banking and Western Union’s growing digital network, geographic reach and ability to exchange in 130 currencies, enables us to move money quickly and reliably.”
Datuk Lim Hong Tat (pictured above right) head of community financial services at Maybank Group, added: “We have revolutionised the money transfer processes for Maybank customers when comparing with current practice where they need to visit a Western Union Agent location in order to transfer money.”