Wing and Valyou launch wallet-to-wallet remittance from Malaysia to Cambodia
By Digital News Asia June 13, 2018
- Send money using Valyou Mobile Wallet app and from over 2,500 Valyou locations across Malaysia
- Money is available for cashout in receiver's Wing account or for pickup at 5,000 Wing agents
CAMBODIAN mobile banking service provider, Wing launched an international remittance service from Malaysia in partnership with Valyou, a financial technology business unit of Telenor Group.
Targeting Cambodian nationals working and residing in Malaysia, remittance customers can now send money directly using Valyou Mobile Wallet app and from over 2,500 Valyou locations across Malaysia.
Upon transfer, the money sent is available for cashout in the receiver's Wing account or for cash pickup at over 5,000 Wing agents in Cambodia.
“As a specialised bank working to provide the best online payment solution in Cambodia, we are very excited about this partnership. It is our mission to provide a fast, secure and convenient way for thousands of Cambodians overseas to send money to their loved ones in Cambodia,” said Wing principal executive officer Jojo Malolos.
Over 150,000 Cambodians in Malaysia working in various industries including agriculture, construction, manufacturing, fishing and domestic service will benefit from this financial solution offered by Wing and Valyou.
Valyou acting CEO Prasanna Rao said, "This partnership with Wing is our third wallet-to-wallet remittance product integration after Easypaisa and bKash. We are fully committed to bringing technological innovation to the remittance industry to offer greater convenience, reliability and affordability to our customers."
An estimated of 1.5 million Cambodians, employed each year as migrant workers overseas, are sending nearly US$2 billion in remittances every year to their families in Cambodia. Malaysia, Singapore and Thailand are the three major countries in Asia employing 6.5 million or 96% of total Asean migrants.