Western Union partners with NymCard in the UAE

By Leandra Monteiro

Western Union and NymCard announced that they have signed a partnership that will enable FinTechs and financial institutions in the United Arab Emirates to offer international money transfer services through the Western Union global money transfer platform.

The announcement underpins Western Union’s recently announced strategy to serve its customers with an expanded value proposition by driving the end-to-end experience in moving money.

In addition, by adding remittance services to their Banking as a Service (BaaS) proposition, NymCard can now offer a wide range of services to FinTechs looking to create seamless experiences for their end consumers in a fast and digital manner.

The partnership announcement means that financial institutions plugged into NymCard can offer their customers access to the Western Union money transfer platform to send money to their loved ones internationally. Once the integration is complete, customers will be able to send money transfers into billions of bank accounts in over 130 countries and territories, or to Agent locations for payout in cash in over 200 countries and territories.

“Sector-wide interoperability through plug-and-play models are increasingly gaining traction,” said Hatem Sleiman, Head of Middle East, Pakistan and Afghanistan, Western Union. “We have been investing in our platform and capabilities to seamlessly integrate third parties, enabling us to become a unique partner for money movement, scaling global connectivity across organizations in telecom, tech and financial services.”

“Remittances are one of the main global connectors that bind people, places, economies and societies together. Through our collaboration with NymCard, we are excited to enable more financial institutions in the UAE to conveniently move money to more than 200 countries and territories through a single integration point,” Sleiman said.

“At NymCard we believe inclusive economies can be built through innovation and collaboration,” said Omar Onsi, CEO, NymCard. “We have always invested in financial partnerships that spur growth, enhance our technology offering and form meaningful relationships. We are thrilled to come together with Western Union, enabling connections to more than 200 countries and territories. This collaboration will provide a truly inclusive offering that leaves no one behind.”