Western Union has signed a seven-year deal with Visa that will let the money transfer firm's customers send funds to eligible cards and bank accounts in 40 countries.
The agreement encompasses card issuance, Western Union’s integration with Visa Direct, and value-added services delivery including risk products. Western Union customers will also be able to receive Visa prepaid cards in some markets.
The two firms are also collaborating on a disbursement programme for humanitarian organisations and governments to support the delivery of funds during a disaster.
Chris Newkirk, global head, commercial and money movement solutions, Visa, says: “Visa’s global scale and Western Union’s digital capabilities are revolutionizing how customers send funds around the world. We are proud to offer more people fast and efficient solutions for cross-border payments.”