Western Union Expands in South Korea with ICB
29 März 2022 - 1:00AM
Business Wire
Customers in South Korea Can Send and Receive
Money with the ICB Mobile App
Western Union, a global leader in cross-border, cross-currency
money movement and payments, today announced the launch of its
money transfer services with ICB, one of the leading fintech
companies in South Korea, offering customers seamless access to
Western Union’s money transfer services via ICB’s mobile app –
DEBUNK Remit.
DEBUNK Remit mobile app, available for Android and iOS, will
enable senders from South Korea to send money to their loved ones
for payout in cash and into bank accounts in select countries
worldwide as a start, eventually scaling up to Western Union’s
global financial payout network. Senders can fund their
transactions through their bank accounts registered with the DEBUNK
Remit mobile app.
The mobile app also enables receivers in South Korea to direct
international Western Union money transfers into their DEBUNK Remit
registered bank accounts, for transactions sent through Western
Union’s digital money transfer services or Western Union’s
worldwide retail Agent network. Receivers in South Korea can now
receive the money by inputting the unique Money Transfer Control
Number (MTCN) and other information into the DEBUNK Remit mobile
app.
“By expanding our money transfer services in Korea, we are
offering customers more access points to send and receive money,”
said K. Premmananth, Head of Singapore, Indonesia and North Asia
for Western Union. “Our alliance with ICB reinforces Western
Union’s commitment to power digital-driven convenience, enhancing
the customer experience.”
Premmananth added, “Western Union has always been about
connecting people. Our strength lies in our deep financial services
expertise and the technologies we employ to solve the complexities
of cross-border money movement. We are excited to work with ICB to
drive shared value through our services and support the needs of
the people we jointly serve.”
“We are proud of this collaboration, enabling access for
customers to more than 200 countries and territories and opening up
a world of possibilities with the choice to send and receive money
through an iconic brand like Western Union’s,” said Hanyong Lee,
CEO of ICB. “With Western Union, we will be able to unlock new
markets and facilitate smooth customer experiences bringing ease of
use and accessibility to customers, which are among the most
important conditions that drive money transfer decisions.”
For more information about the service, customers can visit
https://www.debunk.co.kr/index
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. Western
Union’s platform provides seamless cross-border flows and its
leading global financial network bridges more than 200 countries
and territories and over 130 currencies. We connect consumers,
businesses, financial institutions, and governments through one of
the world’s widest reaching networks, accessing billions of bank
accounts, millions of digital wallets and cards, and a substantial
global network of retail locations. Western Union connects the
world to bring boundless possibilities within reach. For more
information, visit www.westernunion.com.
About ICB
ICB Co., Ltd., is one of South Korea's leading cross border
FinTech companies that processes around $1.6 billion transactions
annually and possesses 15,000 merchants. ICB provides various
fintech related services such as Cross border Payment Gateway
Remittance, Alternative Payment Method Processing, Trade Payment
Settlement among others. In addition to that, In the next few
months, ICB will provide alternative payment method(QR) network
services available to 8 Southeast Asian countries. ICB itself is
growing into a Fintech Hub that connects South Korea to the
World.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220328005410/en/
Western Union Karen Santos;
Karen.Santos2@westernunion.com
ICB Myung Seok Ham; Marketing Officer;
michael@icbnet.co.kr
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