This collaboration aims to provide seamless and efficient cross-border money transfer capabilities to customers using Western Union’s digital platform, the companies said in a Monday (Oct. 30) press release.
The integration with Paysend will offer an additional direct-to-card payout option, enabling Western Union customers to send funds directly to Visa and Mastercard debit cards, according to the release.
By leveraging Paysend’s single application programming interface (API) solution, Western Union customers will experience seamless processing of payments, resulting in near-instant payouts at live foreign exchange rates, the release said. This integration ensures hassle-free money transfers 24/7, 365 days a year.
“Together, we will empower millions with accessible cross-border money transfer services,” Abdul Abdulkerimov, executive chairman and co-founder of Paysend, said in the release.
Sheryl McKenzie, chief product officer at Western Union, said in the release, “This agreement gives our customers more choice, convenience and access to affordable financial services, at the same time, helping build better lives for countless people around the world,” McKenzie said.
The partnership between Western Union and Paysend recently launched an initial pilot program, enabling money transfers from the United States and the United Kingdom to Pakistan, the United Kingdom, and Spain, according to the press release. The success of this pilot program has paved the way for future expansion, with plans to include additional countries in the near future.
The ability to send money in real time to cards has improved the cross-border money transfer experience for consumers around the world, Abdulkerimov told PYMNTS in an interview posted in September.
Paysend’s collaboration with Western Union comes on the heels of partnerships with Visa and Mastercard. Visa and Paysend have strengthened their strategic collaboration to enable Paysend’s customers globally to send money in real time to eligible Visa cards across 170 countries and territories.