Cross-border Payments

Postepay Customers Get Access To Western Union's Platform

Western Union

Through an effort to enable cross-border paymentsPostepay clients can now access the cross-border and cross-currency platform of Western Union to send funds around the world. The arrangement brings together the assets as well as expertise of Poste Italiane with Western Union, per an announcement.

Western Union President and CEO Hikmet Ersek said in the announcement, “It’s exciting to see two leading financial institutions working together to advance digital services for their customers by offering a seamless global cross-border payments experience.” 

He continued, “Western Union’s open platform strategy allows us to innovatively connect the digital and physical worlds of money while helping leading organizations scale their services globally. We are delighted to welcome Postepay into the Western Union family.”

Over seven million customers of Postepay Evolution can now send money internationally through Western Union via the Postepay App. They can fund their payments within the app through an account or card and pay out through the Global Retail Network of Western Union in more than 200 nations and territories. 

Postepay S.p.A., for its part, can count on a formidable customer base of over seven million of Postepay Evolution cards, over 4.8 million digital wallets and almost 20 million of prepaid cards. At the same time, remittances from Italy to the rest of the globe in 2018 were $18.5 billion and $9.5 billion per the Word Bank.

Postepay Chief Executive Officer Marco Siracusano said in the announcement, “Postepay leads the country’s development and innovation by offering solutions that enable our customers to benefit from quality services and easy-to-use products.”

Siracusano continued, “In line with our company’s strategy, Postepay’s first goal is to inform and guide changes in consumer habits while strongly investing in and promoting our App-based strategy. Therefore, the Postepay App offers our customers not only highly-performing dedicated services, but an ecosystem of integrated products and services which simplify transactions and exchanges at any level.”

Siracusano also noted that “thanks to the collaboration with a leading brand such as Western Union, our customers can now send money around the world in total comfort. In this context, a global leader such as Western Union is the right partner to increase our growth.”

 

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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