Western Union and urpay Collaborate to Offer International Money Transfer Services
Western Union and urpay have launched international money transfer services in Saudi Arabia, enabling urpay wallet customers to send money globally through Western Union's network. urpay, Saudi Arabia's leading digital wallet with over 6.5 million users, will now allow customers to transfer money to bank accounts, mobile wallets, or for cash collection at Western Union Agent locations.
The collaboration aims to support Saudi Vision 2030 by promoting financial inclusion and digital economy initiatives. Saudi Arabia represents one of the world's largest outbound remittance markets, with consumers sending over $38 billion in 2023 according to the World Bank. The partnership enhances Western Union's presence in Saudi Arabia, where it has operated since 2000, while expanding urpay's service offerings beyond its current suite of 50+ services.
Western Union e urpay hanno lanciato servizi di trasferimento di denaro internazionale in Arabia Saudita, permettendo ai clienti del portafoglio urpay di inviare denaro a livello globale attraverso la rete di Western Union. urpay, il principale portafoglio digitale dell'Arabia Saudita con oltre 6,5 milioni di utenti, consentirà ora ai clienti di trasferire denaro su conti bancari, portafogli mobili o per il ritiro in contanti presso le sedi degli agenti Western Union.
La collaborazione mira a supportare Saudi Vision 2030 promuovendo l'inclusione finanziaria e le iniziative dell'economia digitale. L'Arabia Saudita rappresenta uno dei mercati di rimessa outbound più grandi al mondo, con i consumatori che inviano oltre 38 miliardi di dollari nel 2023 secondo la Banca Mondiale. La partnership migliora la presenza di Western Union in Arabia Saudita, dove opera dal 2000, espandendo al contempo le offerte di servizi di urpay oltre l'attuale suite di oltre 50 servizi.
Western Union y urpay han lanzado servicios de transferencia de dinero internacional en Arabia Saudita, permitiendo a los clientes de la billetera urpay enviar dinero a nivel global a través de la red de Western Union. urpay, la billetera digital líder en Arabia Saudita con más de 6.5 millones de usuarios, ahora permitirá a los clientes transferir dinero a cuentas bancarias, billeteras móviles o para la recolección en efectivo en las ubicaciones de los agentes de Western Union.
La colaboración tiene como objetivo apoyar Saudi Vision 2030 promoviendo la inclusión financiera y las iniciativas de la economía digital. Arabia Saudita representa uno de los mercados de remesas salientes más grandes del mundo, con consumidores que envían más de 38 mil millones de dólares en 2023, según el Banco Mundial. La asociación mejora la presencia de Western Union en Arabia Saudita, donde ha estado operando desde 2000, al tiempo que amplía la oferta de servicios de urpay más allá de su actual gama de más de 50 servicios.
웨스턴 유니온과 urpay가 사우디아라비아에서 국제 송금 서비스를 시작하여 urpay 지갑 고객이 웨스턴 유니온의 네트워크를 통해 전 세계로 송금할 수 있게 되었습니다. urpay는 650만 명 이상의 사용자를 보유한 사우디아라비아의 주요 디지털 지갑으로, 이제 고객이 은행 계좌, 모바일 지갑으로 송금하거나 웨스턴 유니온 대리점에서 현금을 수령할 수 있도록 합니다.
이번 협력은 사우디 비전 2030을 지원하여 금융 포함 및 디지털 경제 이니셔티브를 촉진하는 것을 목표로 하고 있습니다. 사우디아라비아는 세계에서 가장 큰 송금 시장 중 하나로, 소비자들이 2023년에 380억 달러 이상을 송금한 것으로 세계은행이 보고하고 있습니다. 이 파트너십은 2000년부터 사우디아라비아에서 운영되어 온 웨스턴 유니온의 존재를 강화하고, urpay의 서비스 제공을 50개 이상의 현재 서비스 외로 확장합니다.
Western Union et urpay ont lancé des services de transfert d'argent international en Arabie Saoudite, permettant aux clients du portefeuille urpay d'envoyer de l'argent à l'échelle mondiale via le réseau de Western Union. urpay, le principal portefeuille numérique d'Arabie Saoudite avec plus de 6,5 millions d'utilisateurs, permettra désormais aux clients de transférer de l'argent sur des comptes bancaires, des portefeuilles mobiles ou de le retirer en espèces dans les agences de Western Union.
Cette collaboration vise à soutenir Saudi Vision 2030 en promouvant l'inclusion financière et les initiatives de l'économie numérique. L'Arabie Saoudite représente l'un des plus grands marchés de remises sortantes au monde, avec des consommateurs envoyant plus de 38 milliards de dollars en 2023 selon la Banque mondiale. Ce partenariat renforce la présence de Western Union en Arabie Saoudite, où elle opère depuis 2000, tout en élargissant l'offre de services d'urpay au-delà de sa gamme actuelle de plus de 50 services.
Western Union und urpay haben internationale Geldtransferdienste in Saudi-Arabien gestartet, die es urpay-Wallet-Kunden ermöglichen, Geld weltweit über das Netzwerk von Western Union zu senden. urpay, die führende digitale Geldbörse in Saudi-Arabien mit über 6,5 Millionen Nutzern, wird es den Kunden jetzt ermöglichen, Geld auf Bankkonten, mobile Geldbörsen zu überweisen oder Bargeld an den Standorten von Western Union-Agenten abzuholen.
Die Zusammenarbeit zielt darauf ab, Saudi Vision 2030 zu unterstützen, indem finanzielle Inklusion und Initiativen der digitalen Wirtschaft gefördert werden. Saudi-Arabien gehört zu den größten Märkten für Auslandsüberweisungen weltweit, wobei Verbraucher laut Weltbank 2023 über 38 Milliarden Dollar senden. Die Partnerschaft stärkt die Präsenz von Western Union in Saudi-Arabien, wo das Unternehmen seit 2000 tätig ist, und erweitert gleichzeitig das Dienstleistungsangebot von urpay über die derzeitige Palette von über 50 Dienstleistungen hinaus.
- Access to one of world's largest remittance markets with $38B in transfers
- Partnership with urpay brings access to 6.5M users
- Expansion of digital payment solutions in key Saudi market
- Strategic alignment with Saudi Vision 2030 initiatives
- Facing competition in saturated Saudi digital payments market
- Potential regulatory challenges in cross-border money transfers
Insights
Western Union's partnership with urpay represents a strategic expansion in Saudi Arabia's $38 billion outbound remittance market, giving WU access to urpay's 6.5 million users. This move aligns with WU's digital transformation strategy, where the company increasingly leverages established digital platforms rather than building competing solutions from scratch.
This partnership likely delivers three key benefits for Western Union: market penetration in a top remittance corridor, digital transaction growth without significant infrastructure investment, and competitive positioning against fintech disruptors like Wise and Revolut that have been gaining market share.
For context, Saudi Arabia represents one of Western Union's most valuable markets globally. Digital partnerships typically yield lower margins per transaction but can significantly increase transaction volumes while reducing physical location costs. The integration with urpay's existing wallet infrastructure should allow for faster scaling compared to standalone expansion.
From a competitive standpoint, this partnership appears more defensive than offensive – Western Union is protecting its position in a critical market while gradually transitioning to more digital-first solutions. The company has pursued similar wallet integration strategies in other regions to maintain relevance as consumer preferences shift toward mobile financial services.
Investors should monitor transaction volume growth and any disclosures about revenue sharing arrangements, as these will determine the partnership's actual financial impact for Western Union. The long-term value extends beyond immediate revenue to include customer data insights and establishing deeper digital relationships in a key market.
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Consumers in
Saudi Arabia can now send money internationally through urpay’s collaboration with Western Union - Launch supports Saudi Vision 2030 by driving financial inclusion and enhancing financial services
Left to right: Giovanni Angelini, President,
urpay, launched in 2021, is Saudi Arabia’s leading digital wallet with over 6.5 million users. It provides an integrated experience through a diverse range of over 50 services including payments, mobile top-ups, exclusive deals and money transfers.
Today’s announcement means that urpay customers will be able to send money transfers internationally to bank accounts, mobile wallets, or for cash collection at Western Union Agent locations across select countries. Both companies are also exploring opportunities to expand the breadth of Western Union’s global network for urpay customers over the coming weeks.
“We are excited to collaborate with urpay - bringing access to Western Union’s global money transfer network to urpay wallet customers,” said Giovanni Angelini, President,
Strengthening Cross-Border Money Transfer Services
The launch aligns with Western Union’s and urpay’s shared mission to make financial services accessible for everyone through innovative solutions. It simplifies cross-border transactions, empowering customers with reliable and efficient money transfer options. It reflects both companies’ commitment to delivering world-class financial services by expanding their offerings to meet customer needs.
“We are pleased to collaborate with Western Union to enhance financial inclusion by offering multiple options for financial services,” said Abdullah Al-Ibrahim, CEO, NeoLeap. “Our goal is to ensure a secure and reliable international money transfer experience through the urpay digital wallet.”
Driving Financial Inclusion in One of the World’s Largest Remittance Markets
Western Union branded services have been available to consumers in
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 over 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 urpay
urpay is a comprehensive digital wallet powered by neoleap, launched in 2021. In a short span, it has become one of the leading digital wallets in the Kingdom. urpay offers a broad suite of over 50 financial services, allowing users to transact effortlessly anytime, anywhere.
With a growing community of over 6.5 million users, urpay is redefining convenience by catering to diverse financial needs, from everyday transactions to international remittances and beyond. Built on cutting-edge encryption technologies, urpay prioritizes security, reliability, and efficiency, ensuring every transaction is safeguarded by the highest industry standards .urpay is a comprehensive digital wallet powered by neoleap, launched in 2021. In a short span, it has become one of the leading digital wallets in the region. urpay offers more than 50 diverse financial services for daily transactions, catering to individuals from various segments. With over 6 million users benefiting from its services, urpay ensures a high level of security by utilizing advanced encryption technologies to safeguard information and transactions. Our goal is to redefine digital payments by providing efficiency, accessibility, and innovation, making financial management easier than ever.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250226044790/en/
Media contacts:
Saadia McGlinchey: saadia.mcglinchey@wu.com
Karen Santos: karen.santos2@westernunion.com
Source: The Western Union Company
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