Western Union expands into Asia with Kyodia and Hanpass partnership
Western Union has further expanded its white label offerings to Asia enabling customers of third-party money transfer companies to pay out through Western Union.
Customers of Japan’s oldest remittance company Kyodai Remittance and South Korea’s Hanpass, became the latest collaborators to move funds globally through Western Union. Their customers may choose to pay out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or the Western Union retail agent network across 200 countries and territories.
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Western Union has opened its cross-border platform to power other brands to move money and enable international cross-border payments in minutes by leveraging its core cross-border assets – including global settlement capabilities, compliance, operations, network, and technology systems.
“The expansion of our open platform initiative into Asia with leading financial institutions is a decisive step towards the execution of our strategy to tap into incremental growth opportunities,” says Hikmet Ersek, CEO of Western Union, during his visit to Asia.
Kyodai Remittance and Hanpass join a growing group of global and national brands that have partnered with Western Union to expand or enhance cross-border money transfer and payment capabilities for their customers.
Other platform partnerships include: Kenya’s leading mobile network operator Safaricom, which enables its over 23 million M-Pesa mobile wallet users to transfer money globally from their wallets, Korea’s leading bank KEB Hana Bank, Russia’s major bank, Sberbank, and Saudi Telecom’s STC Pay.
These collaborations with Kyodia Remittance and Hanpass are live with payout functionality available immediately.