The payments giant Visa has partnered with
Western Union to enhance payments globally. By leveraging Visa Direct,
Western Union’s customers, which span 40 countries, can send money worldwide.
Additionally, the companies plan to issue Western
Union and Visa Debit Cards across North America, Asia Pacific, Latin America,
and Europe. According to the press release, under the 7-year agreement, Visa
and Western Union aim to enhance customer experiences through various
initiatives.
These initiatives include integrating Western Union
with Visa Direct and facilitating the issuance of Visa prepaid cards in select
markets. The two payment giants aim to bridge the gap between physical and digital
financial landscapes, providing users with flexibility and a way to easily
manage their finances.
Chris Newkirk, the Global Head of Commercial and
Money Movement Solutions at Visa, mentioned: “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 revolutionizing how customers send funds around the
world. We are proud to offer more people fast and efficient solutions for
cross-border payments.”
Humanitarian Relief and Beyond
Beyond individual transactions, the collaboration
extends its impact to humanitarian efforts and governmental disbursements. By
developing programs for governments and non-governmental organizations, Visa
and Western Union plan to facilitate the delivery of funds during emergencies
and disaster relief efforts.
The agreement marks a significant milestone in the
collaboration between Visa and Western Union, building upon previous integrations
that enabled fund transfers between the US, Europe, and beyond.
In January, Visa Canada partnered with Plug and Play, a venture capital firm. This collaboration, founded on fostering
innovation and collaboration, seeks to boost the growth of fintech startups
across Canada.
In response to the evolving financial landscape,
Visa has ventured into Web3 by launching Visa Web3 Loyalty Engagement.
Developed in collaboration with SmartMedia Technologies, this digital loyalty
solution integrates Web 2 and Web 3 technologies. Visa’s collaboration with Plug and Play, its
initiatives, and its acquisitions all target the fintech space globally.
The payments giant Visa has partnered with
Western Union to enhance payments globally. By leveraging Visa Direct,
Western Union’s customers, which span 40 countries, can send money worldwide.
Additionally, the companies plan to issue Western
Union and Visa Debit Cards across North America, Asia Pacific, Latin America,
and Europe. According to the press release, under the 7-year agreement, Visa
and Western Union aim to enhance customer experiences through various
initiatives.
These initiatives include integrating Western Union
with Visa Direct and facilitating the issuance of Visa prepaid cards in select
markets. The two payment giants aim to bridge the gap between physical and digital
financial landscapes, providing users with flexibility and a way to easily
manage their finances.
Chris Newkirk, the Global Head of Commercial and
Money Movement Solutions at Visa, mentioned: “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 revolutionizing how customers send funds around the
world. We are proud to offer more people fast and efficient solutions for
cross-border payments.”
Humanitarian Relief and Beyond
Beyond individual transactions, the collaboration
extends its impact to humanitarian efforts and governmental disbursements. By
developing programs for governments and non-governmental organizations, Visa
and Western Union plan to facilitate the delivery of funds during emergencies
and disaster relief efforts.
The agreement marks a significant milestone in the
collaboration between Visa and Western Union, building upon previous integrations
that enabled fund transfers between the US, Europe, and beyond.
In January, Visa Canada partnered with Plug and Play, a venture capital firm. This collaboration, founded on fostering
innovation and collaboration, seeks to boost the growth of fintech startups
across Canada.
In response to the evolving financial landscape,
Visa has ventured into Web3 by launching Visa Web3 Loyalty Engagement.
Developed in collaboration with SmartMedia Technologies, this digital loyalty
solution integrates Web 2 and Web 3 technologies. Visa’s collaboration with Plug and Play, its
initiatives, and its acquisitions all target the fintech space globally.
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- Source: https://www.financemagnates.com//fintech/visa-and-western-union-forge-alliance-to-boost-cross-border-transactions/
