Western Union, Thunes Tie Up to Boost Digital Money Transfer

Friday, March 22, 2019

By Zack’s Equity Research

WU has collaborated with Thunes, a cross-border payments network for evolving markets, to enable its customers to send money directly into mobile wallets across the globe.

With this deal, senders can now make the most of Western Union’s emerging digital network. Alternatively, they can use an agent location to transfer funds straightaway to a recipient’s mobile wallet. Consumers who lack access to age-old financial services would be able to enjoy an enhanced financial access. This will drive advanced financial inclusion worldwide.

The aforementioned partnership is just another strategic move by the company to add to its account payout portfolio. Western Union has been constantly focusing on providing customers with a wide array of payout options consisting of banks, cards and mobile wallets, thereby boosting mobile transactions.

Photo courtesy of uditha wickramanayaka.

Source: Nasdaq (link opens in a new window)

Finance, Technology
digital payments, financial inclusion