Jump to content
Sign in to follow this  
Chris_Reeves

Western Union and Visit Payments Pact

Recommended Posts

https://seekingalpha.com/news/3469115-western-union-visa-payments-pact

“Together Visa Direct and Western Union are collaborating with plans to scale real-time4 cross border payments to businesses and consumers in more than 200 countries and territories in more than 130 currencies,” said Bill Sheley, global head of push payments, Visa. “This new strategic relationship with Western Union combines the industry-leading capabilities of the world’s largest remittance provider with Visa’s global reach, risk management abilities and operating scale, to bring exceptional value propositions and user experiences to senders and receivers around the globe.”

Visa is focused on improving and modernizing cross border payments. In addition to this new collaboration, last month, Visa announced the acquisition of control of Earthport, a company that provides cross-border payment services. The acquisition of Earthport is an extension of Visa’s overall cross-border strategy that’s complementary to Visa Direct and our existing partnerships.

 

Share this post


Link to post
Share on other sites
Posted (edited)
4 minutes ago, Chris_Reeves said:

Visa is focused on improving and modernizing cross border payments. In addition to this new collaboration, last month, Visa announced the acquisition of control of Earthport, a company that provides cross-border payment services. The acquisition of Earthport is an extension of Visa’s overall cross-border strategy that’s complementary to Visa Direct and our existing partnerships.

 

Earthport is Ripple Partner :biggrin:

Edited by DarthTrader

Share this post


Link to post
Share on other sites
4 hours ago, Chris_Reeves said:

image.thumb.png.cec56158574be10cc7b4d36152e24793.png

Earthport Home Page

I think that purchase had more to do with Earthport having a pretty decent ACH infrastructure. Mastercard and Visa are vying for a place in correspondent banking which is being left vacant by incumbents. Correspondent banking has been in decline from incumbents but the demand is on the increase especially from SMEs.

It was easier for Visa to purchase a struggling business compared to building one from the grounds up. Mastercard is now in desperate need for a solution. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...