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February 7, 2020

Italy’s Postepay taps Western Union to enable cross-border payments

Italy’s Postepay has entered into a new partnership to enable its customers access Western Union’s platform to send funds globally.

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The move integrates Western Union into the Postepay App benefitting more than seven million of Postepay Evolution customers.

The customers can fund the payments using their card or account and payout via Western Union’s Global Retail Network.

Western Union president and CEO Hikmet Ersek said: “It’s exciting to see two leading financial institutions working together to advance digital services for their customers by offering a seamless global cross-border payments experience.

“Western Union’s open platform strategy allows us to innovatively connect the digital and physical worlds of money while helping leading organisations scale their services globally.”

A unit of Poste Italiane, Postepay operates as an Italian Electronic Money Institution (EMI). It counts on around 20 million of prepaid cards, seven million Postepay Evolution cards and 4.8 million of digital wallets in use.

Postepay CEO Marco Siracusano said: “In line with our company’s strategy, Postepay’s first goal is to inform and guide changes in consumer habits while strongly investing and promoting our App based strategy.

“Therefore, the Postepay App offers our customer, not only highly performing dedicated services, but an ecosystem of integrated products and services which simplify transactions and exchanges at any level.

“Thanks to the collaboration with a leading brand such as Western Union our customers can now send money around the world in total comfort. In this context, a global leader such as Western Union, is the right partner to increase our growth.”

In 2018, total remittances from Italy amounted to $18.5bn, while inward remittances were $9.5bn.

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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