Italy’s Postepay has entered into a new partnership to enable its customers access Western Union’s platform to send funds globally.
The move integrates Western Union into the Postepay App benefitting more than seven million of Postepay Evolution customers.
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The customers can fund the payments using their card or account and payout via Western Union’s Global Retail Network.
Western Union president and CEO Hikmet Ersek said: “It’s exciting to see two leading financial institutions working together to advance digital services for their customers by offering a seamless global cross-border payments experience.
“Western Union’s open platform strategy allows us to innovatively connect the digital and physical worlds of money while helping leading organisations scale their services globally.”
A unit of Poste Italiane, Postepay operates as an Italian Electronic Money Institution (EMI). It counts on around 20 million of prepaid cards, seven million Postepay Evolution cards and 4.8 million of digital wallets in use.
Postepay CEO Marco Siracusano said: “In line with our company’s strategy, Postepay’s first goal is to inform and guide changes in consumer habits while strongly investing and promoting our App based strategy.
“Therefore, the Postepay App offers our customer, not only highly performing dedicated services, but an ecosystem of integrated products and services which simplify transactions and exchanges at any level.
“Thanks to the collaboration with a leading brand such as Western Union our customers can now send money around the world in total comfort. In this context, a global leader such as Western Union, is the right partner to increase our growth.”
In 2018, total remittances from Italy amounted to $18.5bn, while inward remittances were $9.5bn.
