Visa and Western Union announce expanded cross-border collaboration

Visa (V) announced a 7-year agreement with Western Union (WU). Under the new deal, Western Union customers will be able to send money to their family and friends’ eligible Visa cards and bank accounts in 40 countries across five regions. The agreement encompasses card issuance, Western Union’s integration with Visa Direct, and value-added services delivery including risk products. Western Union customers will also be able to receive Visa prepaid cards in select markets offering an innovative solution that bridges the physical and digital world. “People rely on remittances to send lifeline payments to their loved ones overseas. When we consider the urgency and need for accessibility, secure payment options with added convenience can make all the difference,” said Chris Newkirk, Global Head of Commercial & Money Movement Solutions, Visa. “Visa’s global scale and Western Union’s digital capabilities are revolutionizing how customers send funds around the world. We are proud to offer more people fast and efficient solutions for cross-border payments.”