Visa announced the signing of a seven-year agreement with Western Union (WU), allowing WU customers to receive money from their families and friends using eligible cards and bank accounts in 40 countries distributed over five different regions.
The agreement includes issuing cards, integrating the services provided by WU into the Visa Direct service, and providing value-added services – including risk products.
WU customers will also have the ability to obtain prepaid cards from Visa in select markets, with cards that connect the physical and digital world.
Both WU and Visa are also cooperating to develop disbursement programs aiding humanitarian organizations and governments to facilitate the the delivery of essential funds during disasters.
The agreement builds on WU’s existing integrations into Visa Direct in 2019 and 2022, allowing customers in the US and Europe to receive and send money directly to eligible Visa cardholders abroad.
Edited translation from Al-Masry Al-Youm
