Visa and US financial service Western Union have announced a seven-year extension of a pre-existing partnership which will see more Visa cards and bank accounts across 40 countries.
Western Union customers will now be able to send money to friends and family through their Visa cards in 40 countries across five different regions, expanding the scope of the payment giant’s global presence.
Card issuance is at the heart of the Visa and Western Union partnership, with the latter integrating Visa Direct and other value-added services which enable risk mitigation products.
Western Union customers will also be able to receive Visa prepaid cards in select markets offering an innovative solution that bridges the physical and digital world.
Chris Newkirk, Global Head of Commercial & Money Movement Solutions, Visa, said: “People rely on remittances to send lifeline payments to their loved ones overseas. When we consider the urgency and need for accessibility, secure payment options with added convenience can make all the difference.
“Visa’s global scale and Western Union’s digital capabilities are revolutionising how customers send funds around the world. We are proud to offer more people fast and efficient solutions for cross-border payments.”
Western Union and Visa are also developing disbursement programmes for humanitarian organisations and governments to support the delivery of critical funds during a disaster. The programmes are intended to support emergency and humanitarian payouts, cross-border pension payouts and domestic benefits and disbursement payouts.
The agreement builds on Western Union’s existing integrations with Visa Direct in 2022 and 2019, which enabled US and European customers to send or receive funds directly to eligible Visa card holders overseas.
Sam Jawad, Head of Ecosystem, at Western Union, added: “Aspiring populations around the world rely on Western Union to provide them with innovative and accessible financial services that offer flexibility, value and trust.
“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.”
