Western Union is industry first to offer money transfers to U.S. debit cards via Mastercard Send platform
LAS VEGAS, Money 20/20 Conference – October 23, 2017 – Today Mastercard and The Western Union Company announced they are working together to integrate Mastercard Send into the Western Union Money Transfer® service, allowing Western Union to deliver funds to virtually all U.S. debit cards. The alliance opens a new channel for U.S. consumers to quickly and conveniently send money via Western Union to the debit cards people use every day, including non-Mastercard cards. Western Union is the money transfer industry’s first to offer the debit card-enabled service via the Mastercard Send platform in the United States.
The new Western Union service, expected to be available in early 2018, will initially offer digital funds transfers within the U.S. via westernunion.com and the WU mobile app, enabling senders to use their U.S. debit, credit and bank accounts to fund a payment. Customers simply need to know the recipient’s 16-digit debit card number to complete the transfer.
Moving billions of dollars globally each year, Western Union’s vast reach and range of money transfer and payment services – from its mobile apps to thousands of retail agent locations – provide consumers and businesses with fast, reliable and convenient ways to send and receive money around the world. By integrating Mastercard Send, a first-of-its-kind platform that facilitates funds to be sent quickly and conveniently via debit networks, Western Union is enabling consumers to move funds in the U.S. to a recipient’s debit card quickly.
“With Mastercard Send, Western Union customers now have a powerful new way to send funds directly to the debit cards in the wallets of millions of Americans,” said Leigh Amaro, senior vice president, Enterprise Partnerships, Mastercard. “Today’s consumer is busier than ever, and any option to make everyday tasks like money transfer more convenient is hugely important. Western Union is giving consumers one more option to make the service work for their needs.”
“Western Union is synonymous with fast, reliable global money transfer and payments,” said Libby Chambers, chief strategy, product and marketing officer for Western Union. “We’re offering customers more choice and convenience when they send and receive money. This new capability we’ve developed with Mastercard means customers will be able to send funds directly to their receivers’ debit card, with speed and ease.”
Mastercard Send helps power some of the industry’s most innovative payment products. For developers, Mastercard provides financial institutions with an easy-to-use API, one of more than 35 APIs available through the Mastercard Developers portal. Backed by the Mastercard network, banks further benefit from simplified settlement as well as Mastercard’s network and compliance expertise.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2017, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 550,000 agent locations in 200 countries and territories and over 150,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2016, The Western Union Company completed 268 million consumer-to-consumer transactions worldwide, moving $80 billion of principal between consumers, and 523 million business payments. For more information, visit www.westernunion.com.
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