Of Special Interest

2nd March 2012

Western Union payment deals with 26 mobile wallet providers

Western Union announced that it had deals with 26 mobile wallet providers covering 22 countries. The money transfer agreements are with 20 Mobile Network Operators (MNOs) and six banks or independents who collectively have 285m subscribers. The company has launched mobile money transfer services in 9 countries: Bangladesh, Burkina Faso, Canada, Kenya, Madagascar, Malaysia, the Philippines, Tanzania and the U.S.

“According to Gartner, mobile payment services are expected to reach US$245 billion in value worldwide by 2014,” said Diane Scott, Chief Marketing Officer and President, Western Union Ventures. “We are already a leader in the money-transfer category with our global network, with nearly half a million agent locations in 200 countries and territories. And with our strategic alliances with the world’s leading mobile operators, platform providers and banks, we believe we are well-positioned to succeed in digital money transfer as well.”

One of the most recent deals to be announced was with Millicom International Cellular, a MNO working in 13 markets across Latin America and Africa operating under the Tigo brand. The first cross-border money transfer service under this agreement will be launched soon in Paraguay under the Giros Tigo brand (Tigo Cash). Millicom will then be able to offer its customers in Paraguay the ability to receive money across borders using their mobile phones.