Western Union Expands in South Korea with Travel Wallet
February 15 2022 - 6:00PM
Business Wire
Collaboration will Enable Customers to Send and
Receive Western Union Money Transfers on the Travel Wallet app
Western Union, a global leader in cross-border, cross-currency
money movement and payments, and Travel Wallet, one of the leading
fintech companies in the country, have announced the launch of
Western Union money transfer services on the Travel Wallet App.
Travel Wallet users in South Korea now have the choice to send
money through Western Union. The Travel Wallet app is available for
both Android and iOS users. Customers can fund their cross-border
money transfers through their local bank accounts. Cash and bank
account payout in select countries is currently available, with
plans to scale up to the entire scope and reach of Western Union’s
global payout network.
Over the next few months, Travel Wallet users will also be able
to receive Western Union money transfers via the Travel Wallet app,
for transactions sent through Western Union’s digital money
transfer services or Western Union’s worldwide retail Agent
network.
“For 170 years, Western Union has put technology to work
connecting people—bringing boundless possibilities within reach,”
said K. Premmananth, Head of Network, Singapore, Indonesia and
North Asia, Western Union. “Remittances connect people, places,
economies and societies. We are delighted to offer our services to
Travel Wallet users, enabling convenient and reliable financial
flows powered by technology.”
“At Travel Wallet, we adopt a customer-centric approach, and are
glad to collaborate with a like-minded company like Western Union,”
said Hyungwoo Kim, CEO, Travel Wallet. “We are excited to enable
our customers to connect to their loved ones around the world
through one of the world's widest-reaching financial network. We
look forward to putting our collective strengths to work and
catering to who really matters—our customers.”
For more information about the service, customers can email
support@travel-wallet.com.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. Western
Union’s platform provides seamless cross-border flows and its
leading global financial network bridges more than 200 countries
and territories and over 130 currencies. We connect consumers,
businesses, financial institutions, and governments through one of
the world’s widest reaching networks, accessing billions of bank
accounts, millions of digital wallets and cards, and a substantial
global network of retail locations. Western Union connects the
world to bring boundless possibilities within reach. For more
information, visit www.westernunion.com.
About Travel Wallet
Travel Wallet is a leading fintech company in Korea providing
mobile based currency exchange, remittance and cross-border payment
services. Launching the app service in 2019 under the same name,
Travel Wallet is the first company in Korea to target such
cross-border related financial services to overseas travelers,
especially visiting the Asian region. Travel Wallet also became the
1st fintech company in Asia to receive a principal card issuing
license from Visa in 2020, and launched the cross-border payment
service TravelPay in 2021. TravelPay supports payment in 15
currencies at the lowest payment and currency exchange fees in the
Korean market. Travel Wallet has received over 20 million USD in
investments and currently has over 100k active users.
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version on businesswire.com: https://www.businesswire.com/news/home/20220215005583/en/
Western Union Karen Santos;
Karen.Santos2@westernunion.com
Travel Wallet Robert Lee;
robert.lee@travel-wallet.com
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