Western Union Makes Key Partnership To Deliver Money To Mobile Wallets

Western Union Makes Key Partnership To Deliver Money To Mobile Wallets 1

Western Union is pushing further into the crypto world, teaming up with a cross-border payments network so its customers can take advantage of mobile wallets.

The network is Thunes, and through it, Western Union customers can send funds directly into a recipient’s mobile wallet. All they need to do is go online or visit one of the many agent locations just as they do to make traditional transfers.

Why Should Anyone Care?

Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists today. Click here to sign up.

[youtube https://www.youtube.com/watch?v=cxar2ByB0hA?feature=oembed&w=680&h=383]

Western Union has long been known as the place to make wire transfers and pay bills, but advances in the world of fintech have nearly rendered the brick-and-mortar outfit a relic.

Sobia Rahman, the company’s global head of Account Payout Network, responded that the company was continuously making improvements. These include expanding and enhancing its account payout portfolio; providing customers with multiple payout options, and including bank accounts, cards or mobile wallets in its efforts.

He states:

Our goal is to make digital money transfer services more accessible, with a specific focus on enabling mobile transactions.

Western Union says the collaboration with Thunes will help it better serve customers who lack access to traditional financial services. They’ll be connected to alternative payment solutions such as the mobile wallets.

Who’s on First?

The collaboration brought some fun comments from observers. Western Union has partnered with Thunes, but Thunes has partnered with Stellar.

Stellar is a distributed and open-source blockchain platform that connects financial systems. It also facilitates cross-asset transfers. Thunes says that Stellar provides an instant clearing, settlement and execution platform.

About the partnership, Steve Vickers – CEO of Thunes – stated:

Our payments platform seamlessly interconnects payment providers globally and enables interoperability between diverse payment systems. By utilizing our vast networks, Western Union customers will have more flexibility when sending money across borders.

Patience and Timing Are The Strategies

Last year, CCN reported Western Union president Odilon Almeida’s thoughts on the crypto space. Almeida said the company had been evaluating the best ways to use cryptocurrency and blockchain. Though praising of the technology and innovation within the space, he mentioned that volatility, governance, and compliance were three stumbling blocks against its growth.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin29,169 0.06 % 2.15 % 0.88 %
Ethereum1,947.1 0.04 % 4.05 % 6.43 %
Tether1.001 0.16 % 0.07 % 0.55 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB298.74 0.16 % 0.29 % 11.05 %
XRP0.4046 0.14 % 5.26 % 2.91 %
Binance USD1.001 0.08 % 0.12 % 0.02 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana50.73 0.70 % 7.18 % 0.81 %
Dogecoin0.08442 0.36 % 5.02 % 0.20 %

Bitcoin (BTC) $ 29,175.00
Ethereum (ETH) $ 1,949.87
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 299.50
BNB (BNB) $ 298.47
XRP (XRP) $ 0.404701
Binance USD (BUSD) $ 1.00
Cardano (ADA) $ 0.517329
Solana (SOL) $ 50.96