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October 24, 2019

Japan’s Kyodai Remittance taps Western Union for fund transfers

Japanese firm Kyodai Remittance has entered into a new partnership to enable fund transfers globally through Western Union.

The collaboration will enable customers to utilise Kyodai’s multi-channel remittance services in Japan to send money globally. The service will support payments across bank accounts in more than 100 countries and Western Union’s global retail network.

Additionally, customers will be able to transfer money to e- wallets in a dozen countries.

Kyodai enables remittances through 19 physical locations, 30,000 Japan Post ATMs or through online Japanese banking portals.

The partnership comes at a time when the Japanese administration framed a new policy on foreign labour immigration. According to World Bank, Japan will admit 345,000 foreign workers over five years, a move that is expected to boost money transfer services.

Western Union head of Network, Middle East and Asia Pacific Sohini Rajola said: “This service is a unique integration of our strengths as we continue to drive breakthrough connections by enabling national enterprises to scale their business offerings worldwide, leveraging our cross-border platform and global network.

“We are enabling individuals and other businesses to move easily between the digital and physical worlds of money, using the combination of our iconic retail and fast-growing digital bank and wallet payout network.”

Separately, Western Union signed another agreement with Korean fintech company Hanpass to facilitate cross-border money transfers.

Last month, Western Union launched online account-funded money transfers in Canada.

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