Global money movement and payment company Western Union and financial services provider PERA HUB have integrated Western Union’s digital money transfer tools into the UnionBank platform, meaning customers in the Philippines can now get money via Western Union through the mobile app.
The new capabilities allow Filipino customers to send international or domestic Western Union money transfers into their UnionBank accounts by entering unique transaction details into the UnionBank app, which is available for iOS and Android.
“Our long-standing relationship with Western Union is powered by our joint commitment to serve our customers to the best of our capability,” said Ian Ocampo, president and CEO, PETNET Inc., in the joint announcement. “Customers want choice, speed and reliability, and with Western Union, we are glad to drive innovation and explore new opportunities serving the end user.”
Western Union plans to extend the app-based service from their UnionBank accounts to billions of bank accounts and millions of mobile wallets and cards in about 125 countries, spanning more than half a million locations in more than 200 countries and territories.
“We are pleased that this integration with Western Union enables us to come together to do more and deliver better banking experiences to customers through seamless digital money transfers,” said Ana A. Delgado, chief digital channels officer and chief customer experience officer of UnionBank, in the joint announcement.
In other news, Western Union announced last week that it’s selling Western Union Business Solutions to Goldfinch Partners and the Baupost Group for approximately $910 million in cash.
Western Union Chief Financial Officer Raj Agrawal told Karen Webster that Goldfinch and Baupost are good buyers for the business, and that the sale will add nearly a billion dollars to WU’s war chest to invest in and focus on “the things that we’re really good at” — which is enabling money in minutes between senders and receivers anywhere in the world.
The company is aiming to create a larger connected ecosystem for its 150 million global users — nine million of whom are WesternUnion.com users — by using its global payments network to bring people in emerging and developing economies a more connected digital commerce experience.