Western Union has gone live with its Western Union Mobile App and westernunion.com services in Malaysia.

The service will facilitate cash payout at Western Union’s network of more than half a million agents in over 200 countries or bank accounts across the globe.

The daily amount that an user can send daily is capped at RMB3,000 ($431.55). Users have to utilise their local internet banking accounts with FPX (Financial Process Exchange) participating banks in order to fund their online transactions.

Western Union Malaysia

In making the announcement, Western Union cites a study by Microsoft and IDC Asia/Pacific that states that digital transformation will add around $10bn to the GDP of Malaysia by 2021.

The study also says that digitalisation will raise the country’s growth rate by 0.6% per year.

Western Union Global Money Transfer senior vice president and general manager for Asia Pacific Molly Shea said: “We are accelerating our digital presence to mirror our iconic retail footprint globally and locally to offer customers multi-channel choice to suit all their money transfer needs.

“Our customers value us for our speed, convenience and reliability in serving their money transfer needs – up until now, offered through our wide retail footprint. We are pleased to take all of these features and much more and offer our services at their fingertips via our globally high star-rated mobile app or transactional web.”