[ad_1]
The network is Thunes and Western Union customers can send funds directly into the recipient's mobile wallet. To do this, all they have to do is go online or visit one of the many agent outlets, just like for traditional transfers.
Why should anyone worry about it?
Join CCN for $ 9.99 per month and get an ad-free version of CCN, including discounts for future events and services. Support our journalists today. Click here to sign up.
Western Union has long been known as the ideal location for wire transfers and bill payments, but advances in the world of financial technology have turned brick and mortar into a vestige.
Sobia Rahman, global head of the company's account payment network, said the company is making steady improvements. These include expanding and improving its account payout portfolio; providing clients with multiple payment options, including bank accounts, cards or wallets in their efforts.
He declares:
Our goal is to make digital money transfer services more accessible by focusing on mobile transactions.
Western Union says the collaboration with Thunes will help better serve customers who do not have access to traditional financial services. They will be connected to alternative payment solutions such as mobile wallets.
Who is the first?
The collaboration brought some amusing comments from observers. Western Union 's is badociated with Thunes, but Thunes' s is badociated with Stellar.
Damn it, it's a trap … Western Union joins Thunes … .Thunes is the renowned branch of TransferTo … TransferTo uses @StellarOrg. Questions?? #XLM #Stellar https://t.co/Wq3NuM4vDJ
– Samuel Conner (@samconnerone) March 20, 2019
Stellar is a distributed and open-source blockchain platform that connects financial systems. This also facilitates transfers between badets. Thunes says Stellar provides an instant platform for clearing, settlement and execution.
About the partnership, Steve Vickers – CEO of Thunes – said:
Our payment platform transparently interconnects payment providers globally and enables interoperability between various payment systems. By using our extensive networks, Western Union customers will have more flexibility to send money across borders.
Patience and timing are the strategies
Last year, NCC reported Western Union president Odilon Almeida's thoughts on cryptographic space. Almeida said the company had evaluated the best ways to use cryptocurrency and blockchain. While praising technology and innovation within the space, he mentioned that volatility, governance and compliance were three obstacles to its growth.
[ad_2]
Source link
