Leading payments processor Visa and Western Union have extended their partnership with a new seven-year deal that will allow Western Union users to transfer money internationally to friends and family who have qualified Visa cards.

Visa will use its Visa Direct service, which will be available in 40 countries across five regions, to provide Western Union with this new capacity.

North America, Asia Pacific, Latin America, and Europe are among these regions.

As part of the increased partnership with Visa, Western Union's government and NGO clients will be able to use prepaid cards to provide humanitarian relief in addition to new money transfer capabilities.

Visa: Increasing international payments through Western Union

Visa and Western Union have an agreement that covers card issuance, Visa Direct integration, and other value-added services like risk products.

It expands on Western Union's earlier partnerships with Visa Direct from 2022 and 2019, which allowed its clients in the US and Europe to send and receive money directly to other countries in these regions.

Additionally, in some markets, Visa prepaid cards will be available to Western Union users. This is a component of a coordinated funding program that aids governments and humanitarian organizations in providing vital financial support during emergencies.

Emergency and humanitarian needs, international pensions, and domestic benefits and distribution payouts are a few instances of quick payouts.

Remittances are a vital means of communication for those who are unable to see their loved ones who live abroad, according to Chris Newkirk, Global Head of Commercial & Money Movement Solutions at Visa. Convenient and secure payment alternatives can make a big difference when it comes to accessibility and urgency.

"The ability of Western Union to process digital transactions and Visa's global reach are revolutionizing international money transfers for consumers." We take great pride in providing more consumers with quick and easy cross-border payment options.

"Aspiring populations around the world rely on Western Union to provide them with innovative and accessible financial services that offer flexibility, value, and trust," says Sam Jawad, Head of Ecosystem at Western Union.

"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 by strengthening our strategic collaboration with Visa."