Western Union partners with MoMo

Monday 20 March 2023 15:01 CET | News

Fintech company MoMo has announced its partnership with Western Union in order to allow money transfers in Vietnam through the MoMo application. 

Following this partnership, MoMo customers will have the possibility to receive Western Union digital money transfers from numerous countries and territories around the globe. They also will be enabled to collect funds by searching for `Western Union` on their MoMo app and inputting their personal Money Transfer Control Number (MTCN). Once the two steps are completed, users will be able to route their payments first into the MoMo application and then into their bank accounts.  

The aim of the deal is to advance both of the companies’ digital strategies while offering more seamless, efficient, and secure digital and retail financial services. Users will have the possibility to send low costs transfers as well, such as the ones that focus on family support, or festive and celebratory occasions. 

The money transfer operator’s capabilities and offerings will be incorporated within a `super app` that is set to be designed to provide customers with better payment experiences, meeting the different needs and preferences clients might have. 

Fintech company MoMo has announced its partnership with Western Union in order to allow money transfers in Vietnam through the MoMo application.

Western Union’s partnerships

Money transfer service Western Union offers multiple solutions to its customers, including cross-border, cross-currency money products, payments, and digital financial tools to offer businesses, clients, and governments a better way to connect with banks and their offerings. 

The company had multiple partnerships in the past couple of months, covering multiple geographies. 

In February of 2023, the organisation announced its collaboration with Beforepay, aiming to augment cross-border money transfers for customers with short-term lending. 

The clients were enabled to use the `Send Now, Pay Later` option by borrowing up to USD 1,343 through Beforepay’s wage advance product on Western Union’s digital channels. By accessing the products provided through the collaboration, clients were able to increase how much they wanted to transfer, in a faster and more secure way. 

Earlier in the same month, Western Union partnered with the international mobile platform Ding to enable international mobile top-up services in Canada. Following this agreement, the customers from the region had the possibility to send top-up payments to the mobile devices of more the five billion prepaid users throughout the world. 

In December of 2022, Western Union rolled out its Digital Banking app in Romania, aiming to offer both digital banking and international money transfer services. Whether clients live in Romania and want to send money through instant transfers, or if they live abroad and want to send money to someone that lives in the country, they were allowed to make the transfers directly from the Western Union Digital Banking application. The receiving accounts were capable to get the money instantly and the funds could be withdrawn at an ATM, with the debit card that comes when the customer opened their Western Union account. 

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Keywords: partnership, mobile payments, online payments, payments , digital payments, ecommerce, money transfer
Categories: Payments & Commerce
Companies: MoMo, Western Union
Countries: Vietnam
This article is part of category

Payments & Commerce



Western Union

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