EFGH, TS Group target 50,000 foreign workers with digital wallet platform

The white-label app will offer cross-border transfers and domestic financial services.

Embed Financial Group Holdings Pte Ltd (EFGH) and TS Group Pte Ltd will deploy a digital wallet and remittance platform, covering over 50,000 foreign workers in TS Group’s dormitories in Singapore.

Through the partnership, EFGH will provide a ‘white-label’ mobile wallet to offer services such as domestic transfers and cross-border remittances across Bangladesh, India, China, the Philippines, and Indonesia.

The wallet will also enable embedded financial services such as short-term or payday financing and micro-insurance products, whilst integrating with other service providers and partner ecosystems.

The platform will be deployed across TS Group’s residential ecosystem through several phases and testing programmes, with a planned launch by the second quarter of the year.

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