Western Union and Visa Strengthen their International Partnership

Western Union (NYSE: WU) recently announced an update to its existing partnership with Visa (NYSE: V), expanding its integration with Visa Direct, Visa’s real-time1 money movement network, “into Western Union’s United States network.”

Western Union’s integration with Visa Direct was “initially activated across Europe, allowing Western Union customers in more than 20 countries to send and/or receive funds directly to eligible Visa debit card holders.”

Building on this momentum, Western Union customers in the United States can now “send money in near real-time to eligible Visa debit cards in Colombia, El Salvador, Jamaica, Philippines, Romania and Thailand using WU.com, the Western Union app, or from many of Western Union’s US retail locations.”

Gabriella Fitzgerald, President of the Americas Region, Western Union, said:

“Western Union and Visa share a vision for modern money movement, one that ensures cross-border payments are reliable, efficient and transparent, with convenience and the customer’s channel of choice at the center of our customer experience. Our partnership with Visa underscores the benefits that collaboration brings to realizing this shared vision for our joint customers around the globe.”

Yanilsa Gonzalez-Ore, senior vice president, North America head, Visa Direct, remarked:

“Visa is transforming cross-border payments with Visa Direct by helping to bring the ability to securely send and receive funds in near-real-time to more use cases around the world. Through this partnership, we are using Western Union’s digital capabilities to help US customers send money to their family and friends and provide a means to help with bills, as a gift, or for an emergency.”

As noted in the update, the Western Union Company claims to be “a global leader in cross-border, cross-currency money movement and payments.”

Western Union’s platform “provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and approximately 130 currencies.”

They connect consumers, businesses, financial institutions, and governments “through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations.”

Western Union connects the world “to bring boundless possibilities within reach.”

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