Western Union has partnered with French banking subsidiary La Banque Postale to expand digital payment services for its customers.
La Banque Postale, a unit of La Poste Group, currently has 10.3 million active users.
The latest partnership will enable the banking network’s seven million online customers to transfer funds locally and internationally.
This will be made possible via the integration of Western Union’s digital money movement platform with La Banque Postale’s mobile app and website.
Western Union’s platform is a cross-border, cross-currency solution that facilitates real-time transfers. It comes with global settlement capabilities.
La Banque Postale customers will have access to the money transfer company’s international payment services. Customers can fund their transactions with cards or pay-out at Western Union’s Global Retail and Wallet Network.
The partners initially collaborated 20 years ago for international retail money transfer services. Since then, La Poste Group has served as a Western Union Agent.
Western Union president and CEO Hikmet Ersek said: “It has been thrilling to see how our two companies have innovated and collaborated to provide consumers with omnichannel service, offering the flexibility of a fully digitalised web and app experience.”
At Paris Fintech Forum 2020, Ersek noted: “Western Union’s advanced digital services mark an expansion of our open platform strategy as we help other leading global organisations solve the complexities of cross-border, cross-currency transactions.”
Earlier this month, Western Union teamed up with Bharti Airtel to allow real-time payments into Airtel Payments Bank accounts in India and mobile wallets in 14 African countries.