Western Union Teams Up with Thunes to Expand Payout Capabilities to Mobile Wallets
Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement, has teamed up with Thunes, a cross-border payments network for emerging markets, to enable Western Union customers to send funds directly into mobile wallets around the world.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190318005639/en/
Senders can now utilise Western Union’s growing digital network or an agent location to send funds directly into a recipient’s mobile wallet.
“We are continuously expanding and enhancing our account payout portfolio, providing customers with multiple payout options including bank accounts, cards or mobile wallets,” said Sobia Rahman, Global Head of Account Payout Network for Western Union. “Our goal is to make digital money transfer services more accessible, with a specific focus on enabling mobile transactions.”
The collaboration will enable greater financial access for consumers - especially those who lack access to traditional financial services - by connecting them to alternative payment solutions, such as mobile wallets, that ultimately help drive better financial inclusion on a global scale.
"We are delighted to be working with Western Union to provide global reach for their customers,” said Steve Vickers, CEO at Thunes. “Our payments platform seamlessly interconnects payment providers globally and enables interoperability between diverse payment systems, and by utilizing our vast networks, Western Union customers will now have more flexibility when sending money across borders.”
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of December 31, 2018, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in more than 60 countries, plus additional territories, to move money around the world. In 2018, we moved over $300 billion in principal in nearly 130 currencies and processed 34 transactions every second across all our services. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
Thunes (previously TransferTo) provides a cross-border network that delivers smarter payment solutions for emerging economies.
We help to make financial services accessible for everyone by interconnecting diverse payment systems that allow unbanked people to access the global economy. Our network makes it possible for Mobile Wallet Operators, Corporations, Merchants, Money Transfer Operators, and Banks to facilitate the real-time movement of funds to and from emerging countries.
With our three key payment solutions - P2P remittance processing, corporate mass payouts, and digital payment services - our global network spans across over 80 countries with over 9000 payout partners.
Our team is headquartered in Singapore with regional offices in London and Miami.
For more information visit www.thunes.com.
TransferTo Mobile Financial Services Ltd. (Thunes) is authorized by the Financial Conduct Authority in the United Kingdom under the Payment Services Regulations 2017 (Ref. 720167) for Money Remittance and the Execution of Payment Transactions as an Intermediary Payment Service Provider. TransferTo Mobile Financial Services Ltd. is also registered with and regulated by HM Revenue and Customs in the United Kingdom for Money Laundering Regulations as a Money Transmitter (Ref. 12807977).
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