back Back

Western Union and Zain Cash to facilitate digital cross-border money transfers in Jordan

By Leandra Monteiro

April 28, 2022

  • Central Bank of Jordan
  • Cross Border Payments
  • International Remittances
Share

Western UnionWestern Union, a global leader in cross-border, cross-currency money movement and payments and Zain Cash, the mobile financial services arm of Zain – a mobile telecom operator in the Middle East, announced the launch of Western Union digital money transfer services through the Zain Cash mobile wallet.

The launch means that over 250,000 Zain Cash customers in Jordan can now send up to JOD10,000 (USD14,000) from their mobile money wallets into bank accounts, as well as wallets and cards where available, to over 130 countries and territories. Receivers located in 100 of these countries can have their money transferred to them in real time. Customers can also transfer money to Western Union agent locations worldwide. Customers can fund their wallets from their bank accounts in Jordan, or through cash top-up at Zain’s vast network of outlets across the Kingdom.

“We are excited to partner with Zain Cash to offer customers an inclusive, omnichannel approach that enables them to transfer money globally,” said Jean Claude Farah, President, EMEA/APAC Region, Western Union. “We believe that not only do partnerships like this help connect the Middle East to the global financial system, but also drives financial inclusion – improving access for the millions of people who do not benefit from traditional banking services.”

According to the World Bank, Jordan was among the top remittance-receiving countries in the Middle East and North Africa in 2021. Remittances accounted for approximately 8% percent of the country’s GDP. Outbound remittances were around $575 million in 2019.

Farah added, “The extensive support and efforts of the Central Bank of Jordan has driven the evolution of mobile money at pace, allowing the country to leapfrog traditional barriers to development and accelerate economic growth. We are excited to be part of this success story through the digital partnership with Zain Cash and look forward to working closely with them to drive even greater financial inclusion in the country.”

In the coming months, Zain Cash mobile wallet users will also be able to receive money transfers from around the world.

“We are pleased to partner with Western Union, one of the leading companies in global remittance services,” said Sultan Kashoura, General Manager, Zain Cash Jordan. “This partnership firms up Zain Cash’s mission of providing digital financial services and leading the Fintech space in Jordan with its diversified services and solutions.

Sultan Kashoura added, “Remittances are essential to the development of the economy, business and people, and through this collaboration with Western Union, we offer customers the reliability and convenience of seamless money transfers. Our collective focus will, of course, be to drive digital transformation and scale our future plans together to provide tailored digital financial services to the customers.”

Previous Article

April 28, 2022

Kani Payments selected for Mastercard Start Path Global programme

Read More
Next Article

April 28, 2022

MonetaGo delivers milestones in strategy for trade finance de-duplication in India

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Central Bank of Jordan

Security experts sound the alarm on Deepfake threats in the age of AI

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

PXP Financial taps Mastercard to tackle payment fraud

Read More

Today

GoCardless extends partnership with Sage to reach new markets

Read More

Today

Al Ansari Exchange integrates Aani for seamless instant payments

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 Q4 2023
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