Visa and Western Union have inked a seven-year agreement that would enable the money transfer company's clients to transfer money to bank accounts and cards that qualify across 40 nations.
Visa and Western Union have inked a seven-year agreement that would enable the money transfer company's clients to transfer money to bank accounts and cards that qualify across 40 nations.
The deal covers the issuing of cards, the integration of Western Union with Visa Direct, and the delivery of value-added services, including risk products. In certain markets, Visa prepaid cards will also be available to Western Union customers.
Additionally, the two companies are working together on a scheme that will allow governments and humanitarian organizations to receive funding in the event of a crisis.
According to Chris Newkirk, worldwide head of Visa's commercial and money movement solutions, "Western Union's digital capabilities combined with Visa's global reach are completely changing the way that consumers send money across borders." We take great pride in providing more consumers with quick and easy cross-border payment options.
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