Plaid is pleased to announce its collaboration with Western Union (NYSE: WU), a global leader in cross-border and cross-currency payments.
The collaboration provides Western Union’s customers with open banking payments, giving them additional flexibility in “how to send money to their families and loved ones.”
The collaboration with Plaid makes Western Union’s remittance and payment processes even simpler, cheaper, and “more secure for its customers in Europe.”
The integration continues to “build out Western Union’s seamless, omni-channel digital experience, giving their customers more flexibility and trust.”
Additionally, as these payments are “even more secure, Western Union can offer higher thresholds for payments made through Plaid.”
Bart Stencel, VP Omnichannel Marketing Europe at Western Union said:
“It was great working with Plaid to offer a new, easier way of doing money transfers with us. This collaboration shows how we at Western Union invest in innovation to provide our customers with the flexibility and trust they need.”
Plaid’s robust open banking infrastructure streamlines “the process of sending and receiving money across borders, ensuring that funds reach their destination swiftly, without any hassle or delays.”
Account verification is crucial, but it can “be a time-consuming process that slows down money transfers.”
Western Union customers will now “benefit from fast, convenient, open banking-powered account verification from Plaid.”
Users can be confident knowing their money “is going to the right place, every time.”
Higher and Safer Thresholds for Transfers
The collaboration not only enhances efficiency, but also, importantly, security.
Plaid’s advanced security measures “ensure that users’ personal and financial information remain confidential throughout the entire transaction process.”
This highlights Western Union’s ongoing commitment “to safeguarding your financial data, providing peace of mind to customers who value privacy and security.”
Because of these enhanced security measures, Western Union customers can “now benefit from a significant increase in transaction thresholds.”
This means their customers can “send larger amounts of money across borders with ease.”
Whether they’re a business owner “managing international transactions or an individual supporting loved ones abroad, these expanded transfer limits offer greater flexibility and convenience.”
The collaboration also helps “support Western Union’s internal operations, saving time and reducing manual effort.”
Plaid’s open banking technology streamlines Western Union’s payment infrastructure and provides “a common standard of funding across Europe.”
This increased productivity will “give Western Union’s team more time to further enhance their customers’ experience.”
Western Union’s decision to “implement open banking will transform its customer experience in Europe, strengthening its position as a leader in global money transfers while demonstrating its continued commitment to serving customers’ needs.”
Brian Dammeir, Head of Europe at Plaid said:
“Consumers are demanding easier and simpler border-less payments without compromising on security. Plaid is delighted to collaborate with Western Union to enable users to make larger payments, safer and faster.”
