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Western Union and Visa Bolster Their Global Partnership
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Western Union has expanded its partnership with Visa to enhance money transfer capabilities for its US customers. This integration with Visa Direct allows users to send funds to Visa debit cardholders in six countries: Colombia, El Salvador, Jamaica, Philippines, Romania, and Thailand. The service aims to improve transfer speed and efficiency, providing options through WU.com, the Western Union app, and retail locations. With this, Western Union continues to focus on modernizing cross-border payments, emphasizing convenience and reliability in the customer experience.
Positive
Expansion of Visa Direct integration enhances money transfer options for US customers.
Near-real-time money transfers to eligible Visa debit cards in six countries.
Improved transfer speed and efficiency through digital and retail channels.
Negative
Limited to retail-only for transfers to Romania, affecting digital access for US customers.
Western Union Expands its Integration with Visa Direct, Enabling Western Union’s US Customers to Send Money via Digital and Retail Channels to Visa Debit Card Holders in Six Countries
Partnership Expands Payout Options for Western Union’s US Customers, Increasing Transfer Speed and Efficiency
DENVER--(BUSINESS WIRE)--
Western Union today announced an update to its existing partnership with Visa, expanding its integration with Visa Direct, Visa’s real-time1 money movement network, into Western Union’s United States network.
Western Union’s integration with Visa Direct was initially activated across Europe, allowing Western Union customers in more than 20 countries to send and/or receive funds directly to eligible Visa debit card holders.
Building on this momentum, Western Union customers in the United States can now send money in near real-time to eligible Visa debit cards in Colombia, El Salvador, Jamaica, Philippines, Romania2 and Thailandusing WU.com, the Western Union app, or from many of Western Union’s US retail locations.
“Western Union and Visa share a vision for modern money movement, one that ensures cross-border payments are reliable, efficient and transparent, with convenience and the customer’s channel of choice at the center of our customer experience,” said Gabriella Fitzgerald, President of the Americas Region, Western Union. “Our partnership with Visa underscores the benefits that collaboration brings to realizing this shared vision for our joint customers around the globe.”
“Visa is transforming cross-border payments with Visa Direct by helping to bring the ability to securely send and receive funds in near-real-time to more use cases around the world,” said Yanilsa Gonzalez-Ore, senior vice president, North America head, Visa Direct. “Through this partnership, we are using Western Union’s digital capabilities to help US customers send money to their family and friends and provide a means to help with bills, as a gift, or for an emergency.”
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and approximately 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.
1 Actual funds availability depends on receiving financial institution and region
2 Until further notice, send capabilities to Romania are retail only. US customers must use a Western Union retail location to send money to Visa debit card holders in Romania.
What is the recent update regarding Western Union and Visa Direct?
Western Union announced an expansion of its partnership with Visa, allowing US customers to send money to Visa debit cardholders in six countries via Visa Direct.
Which countries can US customers send money to using Western Union and Visa Direct?
US customers can send money to Colombia, El Salvador, Jamaica, Philippines, Romania, and Thailand using the new Visa Direct integration.
How does the new partnership affect transfer speeds for Western Union customers?
The partnership aims to enhance transfer speed and efficiency, allowing near-real-time money movement for eligible users.
Are there any limitations for sending money to Romania with Western Union?
Yes, transfers to Romania are currently retail-only, requiring US customers to use Western Union retail locations.
What platforms can customers use to send money through Western Union?
Customers can send money via WU.com, the Western Union app, or at various retail locations.
