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Digital Wallet Group enters Singapore to expand mobile remittance technology with acquisition of RediMoney Express

Taiwan News, Singapore, 31 August 2021 - International IT and fintech company Digital Wallet Group (DWG) has expanded into Singapore by acquiring licensed remittance and foreign exchange company RediMoney Express Pte Ltd (REPL). REPL is a subsidiary of Asia United Bank (AUB), a Philippine-based and publicly listed universal commercial bank. DWG's subsidiary, Digital Wallet Corporation (DWC), is the creator of Japan's first and most popular mobile remittance application, Smiles Mobile Remittance (Smiles). This acquisition will allow DWG to expand Smiles in the Asia Pacific, serve more customers and boost its market presence in the region. The Monetary Authority of Singapore (MAS) has approved DWG's acquisition.

AUB was appointed as DWG's bank distribution partner in the Philippines in 2019, and the acquisition of REPL further cements their vital alliance. With this acquisition, DWG will bring its expertise in artificial intelligence and fintech to complement REPL's counter remittance service. Additionally, DWG will give customers an enhanced user experience with its competitive exchange rate, convenience, affordability, speed, and 24/7 customer support.

Eiji Miyakawa, founder and Chief Executive Officer of DWG, said, "Our entry into Singapore through the acquisition of RediMoney Express Pte Ltd is the fruition of a strong partnership with Asia United Bank. Furthermore, having a presence in Singapore is strategic to our global expansion plans in building traction with a sizeable migrant worker community. To serve these customers, we aim to build our Singapore operations and hire roles in customer service, sales and marketing within the next two years and from there, fast-track our expansion into North America and Europe."

"With Digital Wallet Group behind the wheel of RediMoney Express Pte Ltd, we are confident that customers can continue to enjoy exceptional service as we expect DWG to stay true to its promise of bringing smiles across the miles," said Manuel A. Gomez, President of AUB.

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Source: https://www.taiwannews.com.tw/en/news/4279597

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