Western Union and PSI-Pay Ltd take on the e-Money market

It is now possible for eco account online wallet holders to add to their funds thanks to a partnership between PSI-Pay Limited and Western Union. Through this partnership, eco account online wallet holders can use the global digital or retail network provided by Western Union to top up their accounts or send money domestically and internationally from the United Kingdom. Western Union and PSI-Pay Limited have worked tirelessly to ensure a successful integration of their money movement functionalities to bring this partnership to fruition.

 

Through the Western Union website, and also their mobile application, ecoPayz customers can now remit their accounts. In addition, they can send funds to over 150 countries across the globe through the Western Union retail agent network. As if that wasn’t a genius enough move, the two partners went further to ensure that their customers in the UK can send money from their eco accounts to quite a number of bank accounts. This partnership also guarantees UK nationals a smooth and seamless cash payout process in the over 150 countries.

 

The integration of Western Union services in ecoPayz online wallet adds to the many online payment platforms offered by Western Union. Western Union, which is listed in the New York stock exchange, is a renowned company globally; known for their cross-border money movement services. The company boasts of its ingenious ways of connecting both the physical and digital spheres hence allowing individuals and businesses to send and receive money conveniently and in record times. As of March this year, the company had increased their retail agent locations to over half a million in more than 200 countries globally. Through Western Union, individuals and businesses can not only send money to other individuals and businesses but also make direct money deposits into billions of bank accounts. It is worth noting that Western Union moved over $300 billion in more than 100 countries in the year 2017. This translated to over 30 transactions every second across all their platforms.

 

On the other hand, PSI-Pay is a UK based e-Money service platform. The company offers an array of e-money products and services and is regulated by the United Kingdom Financial Conduct Authority. The company also issues Visa and Mastercards globally. Through the EEA, PSI-Pay is also licensed and authorized to supply debit, prepaid and virtual payment cards.

 

Speaking about the new partnership, PSI-Pay Limited Operations Director, Jonathan Amrani, said, “We are excited to be collaborating with Western Union and introducing additional services to customers that will enable them to have more flexibility within their eco account. By accessing Western Union’s network, customers have access to hundreds of thousands of locations around the world, and this provides us with an excellent platform to grow and reach new customers.”

 

 

 

https://medium.com/@psipay/what-does-the-gdpr-mean-for-fintech-b6edee20eb52

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