South Korean lender KEB Hana Bank and UK Post Office have collaborated with Western Union to facilitate international payments.
Hana Bank will use Western Union Worldwide pay-out Network to support global remittances.
The Western Union service will be available through Hana Bank’s mobile app Hana EZ.
Powered by Western Union, users of the app will be able to make fund transfers from their smartphones for cash payout in more than 200 countries.
Western Union started operations in South Korea in 2001 and has 4,100 agent locations in the country.
Last year, South Korean lender kakaobank partnered with Western Union to power digital money transfer services.
Hana Bank head of business group and managing director Cho, Jong Hyoung said: “This digital service launch is aligned with our vision to provide customers with the convenience to send money to almost anywhere in the world, any time – 24/7.”
The partnership between Post Office and Western Union will enable one to make international fund transfers through the Post Office digital channel.
Post Office CEO of financial services and telecoms Owen Woodley said: “Working together with Western Union means we can offer customers the capability to transfer money online with ease – not just to bank accounts, but also to mobile wallets and retail Agent locations in more than 200 countries and territories.
“Alongside our existing branch services, this online alliance with Western Union significantly expands the convenient access to money transfer services that the Post Office is proud to offer.”