Western Union and Mastercard are expanding their 10-year digital partnership to deliver more choice and convenience to customers around the world making payments and cross-border money transfers.
Gabriella Fitzgerald, president of the Americas Region at Western Union, said in a press release on Friday (Nov. 12) that Mastercard is a “trusted partner” that offers advanced products and services for cross-border payments.
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“This is just one more example of the world’s leading financial services companies coming to Western Union for our technology, expertise and the power of our omnichannel global financial network to meet their cross-border money movement and payments needs,” Fitzgerald added.
The bolstered collaboration further expands Mastercard Send’s integration into Western Union’s global money movement network. The partnership also integrates Mastercard’s Cross-Border Services delivery via Western Union Business Solutions.
Read more: Mastercard Targets Consumer Purchases, Remittances and B2B AP as Areas of Growth
The deepened relationship with Mastercard aligns with Western Union’s digital partnership strategy as it strives to position itself as the leading global financial network worldwide.
With the integration of Mastercard Send, Western Union gives its U.S. domestic money transfer receivers wider payout possibilities. The service enables payment to a preferred bank card in the U.S. — funds can be added to any U.S. debit card network and delivered in near-real time to the receiver’s debit-card-linked account.
“Western Union is a critical partner for Mastercard as together we focus on digitizing and modernizing the movement of money — for consumers and businesses,” said Leigh Amaro, Mastercard senior vice president of enterprise partnerships. “Combined, our networks offer unique global reach for efficient and secure transactions.”
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The expanded strategic partnership between the two companies also gives customers in 16 European markets the ability to leverage Mastercard Send to transfer money in near-real time directly to their receiver’s Mastercard debit card.
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