Western Union has signed an agreement with WeChat, a mobile text and voice messaging app developed by China’s Tencent Holdings, to enable the app users in the US to send money cross-border to 200 countries and territories.
Under the deal, users of WeChat can send money through Western Union’s WU Connect platform.
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The service is currently available to WeChat users in the US, with plans to launch in other countries in the future.
The newly unveiled WU Connect platform embeds Western Union’s global money transfer capability into third-party digital platforms to provide users with new ways to quickly and conveniently send money to friends and family.
Consumers will be able to fund the money transfer utilizing a debit card, credit card or bank account. The funds will be directed to a Western Union retail agent, mobile wallet or bank account around the world.
Western Union CEO Hikmet Ersek said: "Western Union’s omni-channel strategy is combining our digital presence with our distribution network that pays out in over 200 countries and territories.
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By GlobalData"By teaming with WeChat and deploying the WU Connect platform to its U.S. users, Western Union is offering yet another new method for consumers to move money worldwide."
