Western Union Goes Mobile with U.S. Bank
Western Union, one of the largest money wiring networks in the world, recently announced that it would be partnering with U.S. Bank to offer mobile banking.
U.S. Bank customers will be allowed to send money to other people directly through the phone, just like they would at a Western Union provider.
U.S. Bank becomes the first bank in the United States to integrate the Western Union global money transfer capability directly into its mobile banking application. U.S. Bank has offered Western Union Money Transfer services through its branches for the past four years. This partnership allows their customers the same service from their mobile app.
The mobile transfer services are available in 18 countries including Afghanistan, Bangladesh, El Salvador, Guatemala, Indonesia, Kenya, Madagascar, Malaysia, Paraguay, the Philippines, Tanzania, Uganda, Vietnam, and the United States. This is all thanks to the 20 banking partners Western Union now works with.
Customers in these countries can send money to mobile wallets and bank accounts all around the world. Western Union feels this technology will make a big difference in the way people now transfer money, predicting a 12% increase in mobile payments for 2013.
U.S. Bank is just the first partner for Western Union. In time, Western Union hopes to extend its partnership to other banks to provide money transfer opportunities for even more people.
“We actively look for ways to expand our products and services to give customers choice and drive future growth,” said Carter Hunt, senior vice president of commercial sales for Western Union.
This is going to be one of the most accepted changes Western Union has made over the years as customers consistently rely on their phones for convenience.