Visa (NYSE: V) and Western Union (NYSE: WU) have inked a 7-year deal, enabling Western Union customers to receive money from eligible Visa cards and bank accounts in 40 countries across five regions.
This comprehensive agreement covers card issuance, integration with Visa Direct, and value-added services delivery, including risk products. Additionally, customers can receive Visa prepaid cards in select markets, offering an innovative solution that bridges physical and digital realms.
The collaboration extends to developing disbursement programs for humanitarian organizations and governments, facilitating critical fund delivery during emergencies. These initiatives aim to support emergency and humanitarian payouts, cross-border pension payouts, and domestic benefits disbursement.
Umar Khan, Visa’s Country Manager for Pakistan & Afghanistan, expressed enthusiasm, stating, “Expanding our collaboration with Western Union allows us to provide fast, secure, and convenient money transfers to customers in 40 countries across five regions.”
Sam Jawad, Head of Ecosystem at Western Union, highlighted the importance of offering innovative and accessible financial services, stating, “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.”
This agreement builds upon Western Union’s existing integrations with Visa Direct, enhancing the efficiency and accessibility of cross-border payments for customers worldwide.
