Western Union recently announced that it has worked with Thunes to further improve cross-border payments using blockchain, Thunes’s official name is TransferTo, which has previously worked with Stellar.org.
Thunes helps Western Union remittance customers send money directly to mobile wallets around the world, boosting currencies across borders, across banks and payment gateways.
Payers can now use the growing digital network of Western Union remittances or agents to send funds directly to the payee’s mobile wallet.
Sobia Rahman, global director of the Western Union remittance account payment Network, noted that Western Union remittances continue to expand and enhance the payment portfolio of its accounts, providing customers with a variety of payment options, including bank accounts, credit cards or mobile wallets. The group’s goal is to make it easier to transfer digital money, especially to achieve mobile transactions.
This collaboration will provide more financial services to consumers, especially those who do not have access to traditional financial services, and link them to alternative payment solutions such as mobile wallets, ultimately helping to promote better financial inclusion globally.
Steve Vickers, Thunes’s CEO, is bullish on the partnership and says Thunes’s payment platform seamlessly connects payment service providers around the world to support interoperability between different payment systems.
Western union’s clients now have more flexibility in making cross-border remittances through Thunes’s vast network.