Visa & Western Union Collaborate for Cross-Border Transfers
Leading payments processing company Visa has expanded its collaboration with Western Union by signing a new seven-year agreement that will enable Western Union customers to send money across borders to family and friends with eligible Visa cards.
Visa will deliver this new capability to Western Union using its Visa Direct solution, which will be eligible in 40 countries across five regions.
These areas include North America, Asia Pacific, Latin America and Europe.
In addition to new money transfer capabilities, Western Union’s government and NGO customers will also be able to use prepaid cards to aid humanitarian relief as part of the expanded collaboration with Visa.
Visa: Expanding cross-border payments with Western Union
The agreement between Western Union and Visa encompasses card issuance, Western Union’s integration with Visa Direct and additional value-added services such as risk products.
It builds on Western Union’s previous integrations with Visa Direct in 2022 and 2019, which enabled its US and European customers to send or receive funds directly overseas in these markets.
In addition, Western Union customers will also be eligible to receive Visa prepaid cards in select markets. This comes as part of a joint disbursement programme, helping humanitarian organisations and governments support critical funds delivery during disasters.
Examples of instant payouts include emergency and humanitarian needs, cross-border pensions and domestic benefits and disbursement payouts.
Chris Newkirk, Global Head of Commercial & Money Movement Solutions at Visa says: “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, adds: “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.”
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