Western Union Teams with PagaPhone to Expand Cross-Border Money Transfer Channels From the U.S. to Mexico
May 05 2022 - 10:00AM
Business Wire
- U.S. customers can now send money via digital and retail
channels to mobile phone customers with PagaPhone SmartPay Accounts
in Mexico
- Agreement strengthens Western Union’s leadership in
cross-border money transfer between the United States and
Mexico
Today, Western Union customers have even more ways to send and
receive money from the United States to Mexico thanks to an
agreement between Western Union and PagaPhone SmartPay.
Send Money Direct from the United
States to PagaPhone Smart Pay Account Holders
Customers in the United States can now send money via any
Western Union channel including WU.com, the mobile app or at any
Western Union retail location to Mexico. Recipients can then
receive the funds over their phone using their PagaPhone SmartPay
account.
Once customers receive money in their PagaPhone SmartPay mobile
electronic wallets, they can easily make transfers to bank accounts
through SPEI, withdraw cash from any ATM with their PagaPhone debit
cards or use the funds to pay for services directly through the
application, 24 hours a day, seven days a week.
"By teaming with Western Union, PagaPhone SmartPay users in
Mexico have yet another way to receive money from friends and
family cross-border, using a brand known and trusted for decades,"
said Ulises Tellez, CEO and Founder, PagaPhone SmartPay and Cloud
Transfer Services. “We look forward to offering Western Union’s
industry leading money transfer capabilities to our customers,
giving them a convenient and efficient way to receive money via
their PagaPhone account.”
“Remittances are a lifeline for so many in Mexico, where more
than USD $51B was sent into the country just last year, said Pablo
Porro, Head of Western Union Mexico and Central America. “With this
surge in remittances, customers demand choice and added convenience
for how and when money is sent and received. By teaming with
PagaPhone, Western Union is helping bridge the digital and physical
worlds to offer consumers more channels and added convenience to
send money from the U.S. to Mexico.”
Recurring Remittance Transfers Helps
Strengthen Consumer Income History
Another added benefit – consumers who receive remittances on a
regular basis can use the experience to create an income history,
supporting eligibility for credit or an insurance system.
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 PagaPhone:
PagaPhone is a Mexican e-Wallet with which you can cash your
remittances directly from your cell phone, as well as perform many
more transactions such as: withdraw your money at any ATM, pay with
your Platinum PagaPhone card, buy airtime from any carrier and pay
your utility bills (water, electricity, cable, phone, etc.) on the
app. In addition, Mexican authorities named PagaPhone as the
company that pays the most pesos for every dollar a customer
sends.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220505005113/en/
Western Union Media Relations: Brad Jones
Bradley.Jones@WU.com
Western Union Investor Relations: Tom Hadley
WesternUnion.IR@westernunion.com
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