Visa has announced a 7-year agreement with Western Union. Under the new deal, Western Union customers will be able to send money to their family and friends’ eligible Visa cards and bank accounts in 40 countries across five regions.
The agreement encompasses card issuance, Western Union’s integration with Visa Direct, and value-added services delivery including risk products. Western Union customers will also be able to receive Visa prepaid cards in select markets offering an innovative solution that bridges the physical and digital world.
Go deeper with GlobalData
Western Union and Visa are also developing disbursement programs for humanitarian organisations and governments to support the delivery of critical funds during a disaster. The programs are intended to support emergency and humanitarian payouts, cross-border pension payouts, and domestic benefits and disbursement payouts.
The agreement builds upon existing integrations with Visa Direct in 2022 and 2019
Chris Newkirk, Global Head of Commercial & Money Movement Solutions, Visa, said: “People rely on remittances to send lifeline payments to their loved ones overseas. When we consider the urgency and need for accessibility, secure payment options with added convenience can make all the difference. Visa’s global scale and Western Union’s digital capabilities are revolutionising how customers send funds around the world. We are proud to offer more people fast and efficient solutions for cross-border payments.”
Sam Jawad, Head of Ecosystem, at Western Union, commented: “Aspiring populations around the world rely on Western Union to provide them with innovative and accessible financial services that offer flexibility, value and trust. By strengthening our strategic collaboration with Visa, together we will deliver impactful products and services that can help empower our customers to build a life of opportunity for themselves and their loved ones.”
The agreement builds on Western Union’s existing integrations with Visa Direct in 2022 and 2019, which enabled US and European customers to send and/or receive funds directly to eligible Visa card holders overseas.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
