back Back

Visa & Western Union partner to streamline cross-border payments

By Delisha Fernandes

March 11, 2024

  • Bank Accounts
  • Cross Border Payments
  • cross-border pension
Share

Visa, SAP

Visa has announced a 7-year agreement with Western Union. Under the new agreement, Western Union customers will be able to receive money from their family and friends’ eligible Visa cards and bank accounts from 40 countries across five regions.

The agreement encompasses card issuance, Western Union’s integration with Visa Direct, and value-added services delivery, including risk products. Western Union customers will also be able to receive Visa prepaid cards in select markets, which offers an innovative solution that bridges the physical and digital world.

“Customers are always looking for efficient and secure methods to send money home to support their families and loved ones. We are thrilled to expand our collaboration with Western Union to provide fast, secure, and convenient money movement for customers living in 40 countries across five regions,” said Malak El Baba, Vice President and Country Manager for Egypt at Visa. Visa’s global scale and Western Union’s digital capabilities are revolutionizing how customers send and receive funds around the world. We are proud to offer fast and efficient solutions for cross-border payments solutions to Egypt, given the noticeable contribution of remittances on the nation’s economy.”

Western Union and Visa are also developing disbursement programs for humanitarian organizations and governments to support the delivery of critical funds during a disaster. The programs are intended to support emergency and humanitarian payouts, cross-border pension payouts, and domestic benefits and disbursement payouts.

“Aspiring populations around the world rely on Western Union to provide them with innovative and accessible financial services that offer flexibility, value and trust,” said Sam Jawad, Head of Ecosystem, at Western Union. “By strengthening our strategic collaboration with Visa, together we will deliver impactful products and services that can help empower our customers to build a life of opportunity for themselves and their loved ones.”

The agreement builds on Western Union’s existing integrations with Visa Direct in 2022 and 2019, which enabled US and European customers to send and receive funds directly to eligible Visa cardholders overseas.

Previous Article

March 11, 2024

Paymentology & 2innovate team to boost payment processing in LatAm

Read More
Next Article

March 11, 2024

QIB unveils “FAWRAN” instant payment service on its mobile app

Read More








IBSi Daily News Analysis

payment check out, Open Banking

April 23, 2024

Bank Accounts

UAE retailers lose millions annually on payments fraud; consumers’ wallets impacted

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Nium expands footprint in Asia with Artajasa partnership

Read More

Today

Klarna & Expedia team to offer flexible payments in the US

Read More

Today

Careem Pay expands international remittances to the UK

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023