- Western Union Partners Visa Direct to Simplify Remittance
In the past few months, Western Union has embarked on various projects and partnerships with DEWA, TuChequera.com, Thues and recently Visa Direct, with the aim of modernizing Global Payments.
On the 5th of June 2019, the Western Union took to the media section of its website to announce the new collaboration with Visa Direct in order to modernize global money movement by providing simplicity and transparency in payment solutions.
This new development will allow the implementation of Visa’s real-time push payment platform in an effort to ease the process of sending money across the globe and also reinforce Visa’s commitment to modernize global payments.
The implementation of Visa Direct will afford Western Union to offer a convenient remittance service unto cards with more transparency and in turn enhances the users of experience of the sender and receiver.
This expanded service is planned to make cross border payments more reliable and resourceful than before. With over $80 trillion money been transferred globally, the process has been cumbersome and more complex. The digitization and implementation of money remittance solutions are core to both Visa Direct and Western Union payment modernization.
Bill Sheley, global head of push payments, Visa said “Together Visa Direct and Western Union are collaborating to scale real-time cross border payments to businesses and consumers in more than 200 countries and territories in more than 130 currencies,”
“This new strategic relationship with Western Union combines the industry-leading capabilities of the world’s largest remittance provider with Visa’s global reach, risk management abilities and operating scale, to bring exceptional value propositions and user experiences to senders and receivers around the globe”.
The executive vice president, Western Union Jean Claude Farah also stated: “This collaboration enables our customers to have a fast, user-friendly and reliable platform to send funds into billions of accounts across the world”.
The commitment to innovation and convenience of Western Union had led them to develop and invest in new ways to send money through digital and mobile channels.