Western Union to launch alternative to bank account in El Salvador

Western Union is going to unveil a new product
in El Salvador on 4 June.

The new product will be an alternative to bank
accounts and will give Salvadoran consumers “a safe way to manage
their money and a convenient method to shop online and at retail,”
Western Union said in a letter.

Further information was not disclosed, but
Mike Hafer, senior vice-president of global cards at Western Union
will host an official announcement together with Western Union’s
partners in the region to discuss the new offering on 4 June.

Western Union has taken an aggressive approach
to money remittance services and has been extending its network
both in terms of product offerings and geographies over the past
year.

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