Japan’s KYODAI Remittance and Korea’s Fintech Hanpass Money Transfer Companies Will Now Use Western Union’s Global Network
DENVER & TOKYO & SEOUL, South Korea (STL.News) Western Union (WU), a leader in cross-border, cross-currency money movement and payments, today further expanded its white label offerings to Asia enabling customers of third-party money transfer companies to pay out through Western Union.
Customers of Japan’s oldest remittance company KYODAI Remittance, a service of Unidos Co., Ltd., and Korea’s leading fintech company Hanpass, became the latest collaborators to move funds globally through Western Union. Their customers may choose to pay out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or the Western Union® retail Agent network across 200 countries and territories.
Western Union has opened its cross-border platform to power other brands to move money and enable international cross-border payments in minutes by leveraging its core cross-border assets – including global settlement capabilities, compliance, operations, network, and technology systems.
During his visit to Asia, Hikmet Ersek, CEO, Western Union said, “More global brands are turning to Western Union for cross-border money transfer solutions that provide their customers the ability to transfer money quickly and reliably to almost anywhere in the world. The expansion of our open platform initiative into Asia with leading financial institutions is a decisive step towards the execution of our strategy to tap into incremental growth opportunities.”
KYODAI Remittance and Hanpass join a growing group of leading global and national brands that have partnered with Western Union to expand or enhance cross-border money transfer and payment capabilities for their customers. Other platform partnerships include:
- Kenya’s leading mobile network operator Safaricom enables its over 23 million largely unbanked M-PESA mobile wallet users to transfer money globally from their wallets.
- Korea’s leading bank KEB Hana Bank enables its foreign national customers to move money from its app across the world through Western Union.
- Russia’s major bank, Sberbank, allows its over 50 million customers to send money from its app to the world.
- Saudi Telecom’s STC Pay allows its 2.5 million app users to send money from its app to the world.
- These collaborations with KYODAI Remittance and Hanpass are live today with payout functionality available immediately.