Hello Paisa, one of South Africa’s largest international money transfer providers and Western Union, a global leader in cross-border, cross-currency money movement and payments today announced they have joined forces to enable Hello Paisa customers to send global money transfers for payout at the global network of Western Union.
This partnership enables Hello Paisa customers to send money from South Africa to their family and loved ones for pay-out into billions of bank accounts in more than 100 countries, millions of wallets in a dozen countries or to Western Union’s retail network across 200 countries and territories.
This collaboration further delivers on Western Union’s strategy to open its platform to third-party partners to help them expand their global reach, meet customers’ evolving needs, and solve the complexities of cross-border, cross-currency money movement. Western Union’s open platform strategy is underpinned by the company’s continued investment in key capabilities such as digital, expanding real-time account payout, compliance, and technology.
“We have identified an opportunity for effective global collaboration to do our part in enhancing financial inclusion for migrants living in South Africa. Through this partnership, we have been able to expand our reach globally, sparing our customers the hassle to travel long distances to collect their money as we now leverage off Western Union’s vast network of retail agents, bank account and wallet payout capabilities,” said Sayjil Magan, Managing Director of Hello Paisa.
“We are in the business of solving pressing consumer problems through simple, innovative and tech-driven solutions. We are already servicing over a million people through our existing network, and by expanding our payout network, we will be able to take money to more people where and when they need it most,” Magan said.
Mohamed Touhami El Ouazzani, Regional Vice President, Africa Western Union, also said:
“We are excited to collaborate with Hello Paisa, a company that shares our vision for inclusive innovation and financial inclusion in Africa. This service is an integration of our strengths as we continue to drive global connectivity by enabling national enterprises to scale their business offerings worldwide, leveraging our cross-border platform and global network,"
“We are proud to see more and more local and regional fintech companies in Africa reap the benefits of our open platform strategy and white labelled digital capabilities to solve the complexities of cross-border, cross-currency money movement and enhance customer experience,’ El Ouazzani added.