Western Union and Mastercard expand global partnership

The Western Union Company, a global leader in cross-border, cross-currency money movement and payments, and Mastercard, a global technology company in the payments industry, announced that have bolstered their decade-long strategic partnership.

The deepened partnership expands Mastercard Send integration into Western Union’s global money movement network, and also Mastercard’s Cross-Border Services delivery via Western Union Business Solutions. It represents the latest iteration of Western Union’s digital partnership strategy to become the world’s leading global financial network.

The partnership expansion will broaden choice for both Western Union’s consumers and Mastercard’s business clients.

First, by integrating Mastercard Send, Western Union is broadening payout possibilities for its U.S. domestic money transfer receivers. This enables beneficiaries of Western Union transfers in the U.S. to re-direct any U.S. domestic transaction to a selected bank card. The service is available to load funds on any debit card network within the U.S., with money delivered in minutes to the receiver’s debit-card-linked account.

Second, Western Union customers in 16 European markets¹ will now have the option to leverage Mastercard Send to send money transfers, in near real time, directly to their receiver’s Mastercard debit card, increasing transaction speed and simplifying the receive process. The service is live today with receive destinations including Russia, Turkey, Romania, Hungary, Serbia, Slovakia, Croatia and Kosovo. More countries on both the send and receive sides will be added in the coming months.

In addition, Mastercard will integrate into Western Union Business Solutions’ global network, to pay out funds for Mastercard’s Cross-Border Services, enhancing the offering to existing bank and trade network relationships.