Visa Inks 7-year Deal With Western Union

(RTTNews) - Visa, Inc. (V) announced Tuesday a 7-year agreement with Western Union (WU) under which Western Union customers will be able to send money to their family and friends' eligible Visa cards and bank accounts in 40 countries across five regions.

The agreement includes card issuance, 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 offering an innovative solution that bridges the physical and digital world.

Western Union and Visa are also developing disbursement programs for humanitarian organizations and governments to support the delivery of critical funds during a disaster.

The programs are intended to support emergency and humanitarian payouts, cross-border pension payouts, and domestic benefits and disbursement payouts.

The agreement builds on Western Union's existing integrations with Visa Direct in 2022 and 2019, which enabled US and European customers to send and/or receive funds directly to eligible Visa card holders overseas.