Western Union partners with Thunes to drive financial inclusion
Western Union has teamed up with Thunes, a cross-border payments network, to improve its offering to emerging markets.
The partnership will allow customers to send funds across borders, directly to mobile wallets. It’s hoped the move will promote financial inclusion for people who lack access to traditional financial services around the world.
- Money20/20 Asia: who to look out for…
- Is Visa building a team of crypto experts?
- Mitra Innovation: supporting the digital transformation of finance
- Read the latest issue of FinTech Magazine!
Steve Vickers, CEO of Thunes, explained: “Our payments platform seamlessly interconnects payment providers globally and enables interoperability between diverse payment systems, and by utilising our vast network Western Union Customers will now have more flexibility when sending money across borders.”
Speaking exclusively to FinTech Magazine at Money20/20, Sandra Yao, SVP Africa at Thunes, said: “We are very excited with this partnership. Obviously, digitalisation is a very big thing and it’s a very big move for Western Union to move from traditional cash payout now to the digital wallet payment. We’re happy to bring on board value-added service for them.”
Yao went on to emphasise the importance of what Thunes does for communities. “We improve efficiency and remove the difficulty of getting cash… we save a lot of time and add a lot of convenience.”
- MatchMove acquires e-commerce company Shopmatic for US$200mnFinancial Services (FinServ)
- SCA is coming, and European merchants must be preparedDigital Payments
- Worldline and BRIDGE: introducing modern transport ecommerceDigital Payments
- Airwallex announces new payments solution for UK and EuropeDigital Payments