21 February 2018
visit www.nextgenbanking.co.uk/

Absa and Western Union team on cross-border money transfers

13 May 2010  |  4867 views  |  0 Source: Western Union

South Africa's largest retail bank, Absa, and Western Union, a leader in global payment services, have enhanced their joint service offering to Absa accountholders by allowing them to conveniently access the Western Union Money Transfer service to send or receive cross-border money transfers using either a cell phone or Internet banking.

Absa - voted as Africa's most innovative bank - and Western Union have developed a convenient solution for Absa accountholders wanting to transfer money to friends and family living abroad.

"Account-based money transfer service through Western Union bears testament to Absa's innovative approach to financial services by providing customers with value-added products which complement our current offering," says Alfie Naidoo, Group Chief Operating Officer, Absa Bank. "It's through this approach that we increasingly own more of the payment services space in South Africa for both local and international transactions."

Khalid Fellahi, Western Union's Senior Vice President for Africa and Global Head of Mobile Transaction Services, said, "Our experience with customers around the world in 200 countries and territories has shown us that offering consumers more ways to move money adds significant value. We are mindful that our consumers are on the move and we have harnessed technology so that Western Union meets their lifestyle needs."

The service complements the ongoing nationwide rollout of the Western Union Money Transfer service within Absa branches and is available to eligible Absa accountholders who are registered for Internet Banking and/or Individual Cellphone Banking, in full compliance with the regulatory framework of South Africa.

Western Union intends to maintain its market-leading position in global payment services, where in several markets around the world it already offers bank account-driven services, online transactions via www.westernunion.com and mobile money transfer. This launch with Absa represents the first time all three options have been integrated into a seamless offering.

Absa is a subsidiary of Barclays Bank plc, which holds a stake of 55,5% in the Group.

 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register for the webinarvisit www.nextgenbanking.co.ukvisit www.ebaday.com

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10055 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9676 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8443 views comments | 13 tweets | 12 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7102 views comments | 8 tweets | 12 linkedin
hands typing furiouslyMaking Customer Experience Your Business
6798 views 0 | 7 tweets | 5 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job