Western Union is presently going to harness Stellar (XLM) based technology in a bid to revolutionise international payments through the use of cross-border funds transfers.This mega partnership is undoubtedly expected to bring financial services to customers across the world- people in remote places.
According to a firsthand report Western Union (WU), a leader in cross-border, cross-currency money movement, has teamed up with Thunes, a cross-border payments network for emerging markets, to enable Western Union customers to send funds directly into mobile wallets around the world. This adoptions is an innovative one since it will enable users to transfer funds.
In an unalloyed state of excitement, Stobia Rahman, Global Head of Account Payout Network for Western Union, had remarked: “We are continuously expanding and enhancing our account payout portfolio, providing customers with multiple payout options including bank accounts, cards or mobile wallets”. He did stress that their goal is to make digital money transfer services more accessible, with a specific focus on enabling mobile transactions.
Steve Vickers,CEO at Thunes, could not hid his joy and optimism. He had said that they are delighted to be working with Western Union to provide global reach for their customers. He had happily said “Our payments platform seamlessly interconnects payment providers globally and enables interoperability between diverse payment systems, and by utilizing our vast networks, Western Union customers will now have more flexibility when sending money across borders.”
In all sureness, this mega collaboration will enhance greater financial access for consumers by ultimately linking them to alternative payment solutions that will help gear better financial inclusion on a global scale.
It would be nice at this juncture to note that Western Union is not new to the blockchain technology. It has in the time past showed interest in the Ripple (XRP) for cost-effective and quick transfers. However, we are yet to get a clear direction the Ripple (XRP) adoption and utilization.
