Western Union has signed an agreement with Paysend to enhance cross-border money transfers

Western Union, a global cross-border money transfer company, has entered into an agreement with Paysend, a card-to-card and international payments firm. The collaboration is aimed at enhancing seamless cross-border money transfer services. More specifically, the partnership will enhance customers’ ability to send money via Western Union’s branded digital solution directly to Mastercard and VISA debit cards.

Western Union - Paysend partnership

In regard to the partnership, Paysend’s Executive Chairman, Abdul Abdulkerimov stated, “Paysend’s mission is to make money transfer easier for everyone. We are thrilled to join forces with Western Union, a company known for its global reach and commitment to financial inclusion. Together, we will empower millions with accessible cross-border money transfer services. ”

In line with the collaboration in question, the two firms have launched an initial pilot program that allows for customers to send funds from the UK and the US to Pakistan, Spain, and the UK. Plans are underway to add more countries to this list in coming months.

The partnership between Paysend and Western Union follows Paysend’s network expansion with Mastercard and Visa in September. Besides, it comes just a few days after the latter released its Q3 earnings results. The company recorded a 3% growth in its branded digital revenue YoY for the quarter that ended on 30thSeptember.

In the earnings call on 25thOctober, the cross-border money transfer company’s CEO, Devin McGranahan noted, “Third quarter results exceeded our expectations and demonstrate a continued positive trajectory against our ‘Evolve 2025’ goals. This quarter’s strong results were driven by continued revenue growth from the change in Iraqi monetary policy and by achieving positive global brand digital revenue growth a full quarter ahead of our expectations.”