Western Union to work with Italian firm Postepay

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Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • Western Union set to work alongside Postepay to provide access to cash transfer through the app
  • Postepay is a relatively new Italian company
  • “Thanks to the collaboration with a leading brand such as Western Union our customers can now send money around the world in total comfort”, said Postepay CEO

Major online money transfer giant Western Union has announced that it intends to work alongside Italian company Postepay as part of a new cross border payments platform.

The collaboration will see almost 8m Postepay Evolution customers be able to access Western Union services from the comfort of their Postepay app.

They will be able to make payments using the app and to supply the cash required either with their bank cards or bank accounts.

Their chosen recipients will be able to cash in the remittance at one of the firm’s retail network outlets in more than 200 markets across the globe.

Postepay SpA is a relatively new firm on the online money transfer scene, although it does have almost 20m prepaid cards in its network.

In a statement, Hikmet Ersek – who serves as president and CEO of Western Union – said that the move would “advance digital services” for those affected.

“It’s exciting to see two leading financial institutions working together to advance digital services for their customers by offering a seamless global cross-border payments experience”, he said.

“Western Union’s open platform strategy allows us to innovatively connect the digital and physical worlds of money while helping leading organizations scale their services globally.”

“We are delighted to welcome Postepay into the Western Union family”, he added.

On Postepay’s part, CEO Marco Siracusano claimed that the new development would offer “total comfort” for people looking to transfer cash abroad or send money home.

“Postepay leads the country’s development and innovation by offering solutions that enable our customers to benefit from quality services and easy-to-use products”, he said.

“Thanks to the collaboration with a leading brand such as Western Union our customers can now send money around the world in total comfort.”

“In this context, a global leader such as Western Union, is the right partner to increase our growth”, he added.

The statement from Postepay’s Marco Siracusano just goes to show how valuable a relationship with a key institution such as Western Union is for a smaller and relatively new firm.

He went on to say that he believes “that through this valuable partnership, we will be able to serve our respective customers even better” – and while that’s likely to be true, it’s also likely that the firm will be able to enjoy increased revenues as a result of this change too.

Western Union enjoys a major global reach and accessing those market connections is extremely valuable for smaller firms.

There’s a lot to keep up with when it comes to online money transfer.

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