WU - Visa Western Union enter new pact for sending money to cards bank accounts
2024-03-05 09:21:44 ET
- Visa ( NYSE: V ) entered a new seven-year agreement that will allow Western Union ( NYSE: WU ) customers to send money to family and friends' eligible Visa cards and bank accounts in 40 countries, the companies said on Tuesday.
- The agreement covers card issuances, Western Union's integration with Visa Direct, and value-added services delivery, including risk products. Western Union customers will also be able to receive Visa prepaid cards in select markets.
- The two companies are also developing disbursement programs for humanitarian organizations and governments to support the delivery of funds during disasters.
- The agreement expands Western Union's ( WU ) existing integrations with Visa Direct in 2022 and 2019, which allowed U.S. and European customers to send and/or receive funds directly to eligible Visa card holders overseas.
- Western Union ( WU ) stock rose 0.5% and Visa ( V ) stock edged up 0.1% in Tuesday premarket trading.