PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Domestic Remittances Offered by Western Union Though Mastercard Send

By Sarah Grotta
October 25, 2017
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Contactless Payments

Although the growth of debit card payments may be slipping, the use of a debit card number as a proxy for a bank account to receive funds is expanding.  Street Insider and other news outlets announced the launch of a service offered by Western Union to push funds to a debit card using Mastercard Send. Note that funds can be sent to any card, not just those branded Mastercard.

Today Mastercard (NYSE: MA) and The Western Union Company (NYSE: WU) announced they are working together to integrate Mastercard Send into the Western Union Money Transfer® service, allowing Western Union to deliver funds to virtually all U.S. debit cards. The alliance opens a new channel for U.S. consumers to quickly and conveniently send money via Western Union to the debit cards people use every day, including non-Mastercard cards. Western Union is the money transfer industry’s first to offer the debit card-enabled service via the Mastercard Send platform in the United States.

The new Western Union service, expected to be available in early 2018, will initially offer digital funds transfers within the U.S. via westernunion.com and the WU mobile app, enabling senders to use their U.S. debit, credit and bank accounts to fund a payment. Customers simply need to know the recipient’s 16-digit debit card number to complete the transfer.

Using cards through one of the network push payment network is considered a better consumer experience since only the card number needs to be known, rather than an R/T and checking account number.  The push payment networks also have (or will have) the capability to deliver transactions globally, but I wouldn’t look for that service to be offered by a money transfer operator unless they can also control the compliance and foreign exchange aspects.

Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group

Read the full story here

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: DebitMastercardWestern Union

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    commercial card, Allpay ClearBank Prepaid Payments, wealth transfer

    How Banks Can Capture the Wealth Transfer from Boomers to Gen Z

    June 20, 2025
    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result