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Western Union and Khipu Introduce New Digital Payment Method in Chile

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Western Union has partnered with Khipu to introduce a new digital payment method in Chile. This integration allows customers to send money directly from any Chilean bank account through Western Union's mobile app and website, streamlining the remittance process. Previously, customers had to exit Western Union's platform to complete bank payments, but this step is now eliminated.

The collaboration aims to provide a faster, easier, and more efficient money transfer experience, with transactions potentially completed in minutes. To encourage adoption, Western Union is offering a $0 fee promotion for the first remittance using the new 'Online Bank Transfer' option.

This partnership is expected to strengthen Western Union's position in the Chilean remittance market and improve financial inclusion through modern digital services.

Western Union ha stretto una collaborazione con Khipu per introdurre un nuovo metodo di pagamento digitale in Cile. Questa integrazione consente ai clienti di inviare denaro direttamente da qualsiasi conto bancario cileno tramite l'app mobile e il sito web di Western Union, semplificando il processo di rimessa. In precedenza, i clienti dovevano uscire dalla piattaforma di Western Union per completare i pagamenti bancari, ma questo passaggio è stato eliminato.

La collaborazione mira a fornire un'esperienza di trasferimento di denaro più veloce, più semplice e più efficiente, con transazioni che potrebbero essere completate in pochi minuti. Per incoraggiare l'adozione, Western Union offre una promozione senza commissioni di $0 per la prima rimessa utilizzando la nuova opzione 'Trasferimento Bancario Online'.

Questa partnership si prevede che rafforzi la posizione di Western Union nel mercato delle rimesse cileno e migliori l'inclusione finanziaria attraverso servizi digitali moderni.

Western Union se ha asociado con Khipu para introducir un nuevo método de pago digital en Chile. Esta integración permite a los clientes enviar dinero directamente desde cualquier cuenta bancaria chilena a través de la aplicación móvil y el sitio web de Western Union, optimizando el proceso de remesas. Anteriormente, los clientes tenían que salir de la plataforma de Western Union para completar los pagos bancarios, pero este paso ahora ha sido eliminado.

La colaboración tiene como objetivo proporcionar una experiencia de transferencia de dinero más rápida, más fácil y más eficiente, con transacciones que pueden completarse en minutos. Para fomentar la adopción, Western Union está ofreciendo una promoción de tarifa de $0 para la primera remesa utilizando la nueva opción de 'Transferencia Bancaria en Línea'.

Se espera que esta asociación refuerce la posición de Western Union en el mercado de remesas chileno y mejore la inclusión financiera a través de servicios digitales modernos.

웨스턴 유니온(Western Union)은 칠레에서 새로운 디지털 결제 방법을 도입하기 위해 키푸(Khipu)와 협력했습니다. 이 통합을 통해 고객은 웨스턴 유니온의 모바일 앱과 웹사이트를 통해 칠레의 모든 은행 계좌에서 직접 돈을 보낼 수 있으며, 송금 과정을 간소화할 수 있습니다. 이전에는 고객이 은행 결제를 완료하기 위해 웨스턴 유니온 플랫폼을 나가야 했지만, 이 단계는 이제 제거되었습니다.

이번 협력의 목적은 더 빠르고, 더 간편하며, 더 효율적인 송금 경험을 제공하는 것이며, 거래는 몇 분 안에 완료될 수 있습니다. 이를 장려하기 위해 웨스턴 유니온은 새로운 '온라인 은행 송금' 옵션을 사용하여 첫 송금에 대해 $0 수수료 프로모션을 제공하고 있습니다.

이 파트너십은 웨스턴 유니온이 칠레 송금 시장에서의 입지를 강화하고 현대 디지털 서비스를 통해 금융 포용성을 개선할 것으로 예상됩니다.

Western Union s'est associé à Khipu pour introduire un nouveau mode de paiement numérique au Chili. Cette intégration permet aux clients d'envoyer de l'argent directement depuis n'importe quel compte bancaire chilien via l'application mobile et le site Web de Western Union, simplifiant le processus de transfert d'argent. Auparavant, les clients devaient quitter la plateforme de Western Union pour effectuer des paiements bancaires, mais cette étape a maintenant été éliminée.

La collaboration vise à offrir une expérience de transfert d'argent plus rapide, plus facile et plus efficace, avec des transactions pouvant être réalisées en quelques minutes. Pour encourager l'adoption, Western Union propose une promotion de frais de $0 pour le premier transfert utilisant la nouvelle option 'Transfert bancaire en ligne'.

Cette partnership est censée renforcer la position de Western Union sur le marché des remises chilien et améliorer l'inclusion financière grâce à des services numériques modernes.

Western Union hat sich mit Khipu zusammengeschlossen, um eine neue digitale Zahlungsmethode in Chile einzuführen. Diese Integration ermöglicht es den Kunden, Geld direkt von jedem chilenischen Bankkonto über die mobile App und die Website von Western Union zu senden, den Remittance-Prozess zu optimieren. Zuvor mussten die Kunden die Plattform von Western Union verlassen, um Bankzahlungen abzuschließen, aber dieser Schritt wurde nun eliminiert.

Die Zusammenarbeit zielt darauf ab, ein schnelleres, einfacheres und effizienteres Geldtransfererlebnis zu bieten, wobei Transaktionen potenziell in Minuten abgeschlossen werden können. Um die Akzeptanz zu fördern, bietet Western Union eine $0 Gebührenaktion für die erste Remittance mit der neuen 'Online-Banküberweisung'-Option an.

Diese Partnerschaft wird voraussichtlich die Position von Western Union auf dem chilenischen Remittancemarkt stärken und die finanzielle Inklusion durch moderne digitale Dienstleistungen verbessern.

Positive
  • Integration of Khipu technology into Western Union's app and website for seamless bank transfers
  • Streamlined process eliminates the need for customers to exit Western Union's platform
  • Potential for faster transaction completion times
  • $0 fee promotion for first remittance using the new 'Online Bank Transfer' option
  • Strengthens Western Union's presence in the Chilean remittance market
Negative
  • None.

Insights

The partnership between Western Union and Khipu marks a significant step in digital payment innovation for the Chilean market. By integrating Khipu's technology into Western Union's mobile app and website, the company is streamlining the remittance process, potentially increasing transaction volume and user engagement. This move aligns with the global trend towards seamless digital financial services and could help Western Union maintain its competitive edge in the remittance sector. The $0 fee promotion for the first transaction is a smart strategy to drive adoption and could lead to increased customer acquisition. However, the long-term impact on Western Union's revenue will depend on user retention and transaction frequency after the promotional period. While this partnership enhances Western Union's digital capabilities in Chile, investors should consider how this localized improvement fits into the company's broader global strategy and its potential for replication in other markets.

This collaboration between Western Union and Khipu is strategically significant for the Chilean remittance market. By eliminating the need for customers to exit the Western Union platform to complete transactions, the company is addressing a key friction point in the user experience. This enhancement could lead to higher customer satisfaction, potentially increasing Western Union's market share in Chile. The emphasis on speed and convenience aligns with consumer expectations in the digital age and could be particularly appealing to younger, tech-savvy users. However, investors should note that while this improvement is substantial for the Chilean market, its impact on Western Union's overall global operations may be given Chile's size relative to the company's worldwide presence. The success of this integration could serve as a model for similar partnerships in other countries, potentially leading to a broader positive impact on Western Union's international digital strategy.
  • Agreement integrates Khipu technology into the Western Union mobile app and website, allowing customers to send money from any bank account in Chile faster and easier.

SANTIAGO, Chile--(BUSINESS WIRE)-- Western Union today announced an agreement with Khipu, providing customers the ability to send money digitally using any bank account across the country.

“Western Union remains committed to providing the best possible experience to its customers, one that addresses choice, speed and convenience when sending money cross-border. We are excited to team up with Khipu and integrate their technology into our website and mobile app to create a more efficient and seamless process for our customers," commented Priscila Nogueira, Western Union Country Director, Chile.

Previously, customers wishing to pay with a bank account had to exit the Western Union app or website and log into their bank’s platform to finalize payment. With this integration, that step is now eliminated, with the entire process staying within the Western Union channel.

The integration ensures that remittances can be sent more easily and efficiently, making it possible to conduct transactions in a matter of minutes.

Eduardo Charme, Assistant Sales Manager at Khipu, pointed out, "A global partner like Western Union strengthens our more than 10 years of service and growth. This collaboration marks a milestone in Chile's financial sector, improving inclusion in digital services using cutting-edge, modern and easier technologies. At Western Union and Khipu we are committed to offering innovative solutions to make our customers’ lives easier."

Western Union also announced a special $0 fee promotion for the first remittance paid through the “Online Bank Transfer” option, an incentive intended to encourage customers to try the new service.

"This service reinforces and strengthens Western Union's presence as a leader in remittance operations in the Chilean market. We are confident that it will be of great help to our users, which is in line with our focus on customer service and satisfaction with world-class standards,” added Nogueira.

Customers can use the service through the Western Union Chile app and website.

About Western Union

The Western Union Company (NYSE: WU) is committed to helping people around the world who aspire to build financial futures for themselves, their loved ones and their communities. Our leading cross-border, cross-currency money movement, payments and digital financial services empower consumers, businesses, financial institutions and governments—across more than 200 countries and territories and nearly 130 currencies—to connect with billions of bank accounts, millions of digital wallets and cards, and a global footprint of hundreds of thousands of retail locations. Our goal is to offer accessible financial services that help people and communities prosper. For more information, visit www.westernunion.com.

About Khipu

Khipu is an Open Finance company that offers services for the integration of systems with financial data and services. Its products include payment solutions based on the simplification of transfers, automatic payments based on PAC mandates and Webscraping as a Service (WaaS). For more information, visit www.khipu.com

Media contacts:

Mario Bravo

Mario.bravo@askcomunicaciones.com



Brad Jones

Bradley.Jones@wu.com

Source: The Western Union Company

FAQ

What new payment method has Western Union introduced in Chile?

Western Union has introduced a new digital payment method in Chile through a partnership with Khipu, allowing customers to send money directly from any Chilean bank account using Western Union's mobile app and website.

How does the new Western Union and Khipu integration benefit customers in Chile?

The integration streamlines the remittance process by eliminating the need for customers to exit Western Union's platform to complete bank payments, making money transfers faster, easier, and more efficient.

Is there a promotional offer for Western Union's new 'Online Bank Transfer' option in Chile?

Yes, Western Union is offering a $0 fee promotion for the first remittance sent using the new 'Online Bank Transfer' option to encourage customers to try the service.

How long does it take to complete a transaction with Western Union's new service in Chile?

According to the announcement, the new integration makes it possible to conduct transactions in a matter of minutes, potentially speeding up the remittance process.

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