Global money movement and payment company Western Union and financial services provider PERA HUB have integrated Western Union’s digital money transfer tools into the UnionBank platform, meaning customers in the Philippines can now get money via Western Union through the mobile app.
The new capabilities allow Filipino customers to send international or domestic Western Union money transfers into their UnionBank accounts by entering unique transaction details into the UnionBank app, which is available for iOS and Android.
“Our long-standing relationship with Western Union is powered by our joint commitment to serve our customers to the best of our capability,” said Ian Ocampo, president and CEO, PETNET Inc., in the joint announcement. “Customers want choice, speed and reliability, and with Western Union, we are glad to drive innovation and explore new opportunities serving the end user.”
Western Union plans to extend the app-based service from their UnionBank accounts to billions of bank accounts and millions of mobile wallets and cards in about 125 countries, spanning more than half a million locations in more than 200 countries and territories.
“We are pleased that this integration with Western Union enables us to come together to do more and deliver better banking experiences to customers through seamless digital money transfers,” said Ana A. Delgado, chief digital channels officer and chief customer experience officer of UnionBank, in the joint announcement.
Related: Western Union Moves 910M Steps Closer To Fulfilling Its Global Connected Ecosystem Vision
In other news, Western Union announced last week that it’s selling Western Union Business Solutions to Goldfinch Partners and the Baupost Group for approximately $910 million in cash.
Western Union Chief Financial Officer Raj Agrawal told Karen Webster that Goldfinch and Baupost are good buyers for the business, and that the sale will add nearly a billion dollars to WU’s war chest to invest in and focus on “the things that we’re really good at” — which is enabling money in minutes between senders and receivers anywhere in the world.
The company is aiming to create a larger connected ecosystem for its 150 million global users — nine million of whom are WesternUnion.com users — by using its global payments network to bring people in emerging and developing economies a more connected digital commerce experience.
Hey, we got frustrated.
We were planning our last Weekender of the year, and everything was feeling more than a little too cliched.
Staffer resolutions for the new year? Boring.
Resolutions for the payments sector and connected economy? Even more boring.
Then it hit us. 2024 was the year of artificial intelligence. All day, every day. So why not ask various AI models what they would recommend for resolutions for consumers as they navigate their everyday financial lives?
What would some New Year’s resolutions look like that relate to payments and payments habits?
Here are 20 of the best of what we got back.
1. I will not buy coffee with my credit card just to get points.
2. I will stop pretending to understand the stock market.
3. I resolve to stop using “password” as my password.
4. I will finally read the terms and conditions of my credit card.
5. I will not panic every time I see a bitcoin price alert.
6. I will try to remember my online banking password without resetting it every time.
7. I will not use my pet’s name as my PIN.
8. I will finally understand what blockchain is … or at least pretend to.
9. I will not ask my bank teller for stock tips.
10. I will stop blaming the ATM for my low balance.
11. I promise to stop referring to my credit card as “free money.”
12. I will resist the urge to invest in companies just because I like their logo.
13. I will not use “show me the money” as my banking app’s voice command.
14. I resolve to stop treating my piggy bank as a legitimate savings account.
15. I will not impulse-buy cryptocurrency after watching a YouTube tutorial.
16. I promise to stop calling my financial advisor just to chat about the weather.
17. I will resist the temptation to start my own cryptocurrency named after my cat.
18. I will not use “cha-ching” as my text alert for incoming transfers.
19. I resolve to stop referring to my wallet as “where money goes to die.”
20. I will finally admit that I have no idea what APR stands for.