Western Union and Zain Cash Collaborate to Facilitate Digital Cross-border Money Transfers in Jordan
28 April 2022 - 7:00AM
Business Wire
Zain Cash customers will be able to
conveniently send and receive money around the clock with a few
clicks.
Western Union (NYSE: WU), a global leader in cross-border,
cross-currency money movement and payments and Zain Cash, the
award-winning mobile financial services arm of Zain - a leading
mobile telecom operator in the Middle East, today announced the
launch of Western Union digital money transfer services through the
Zain Cash mobile wallet.
The launch means that over 250,000 Zain Cash customers in Jordan
can now send up to JOD10,000 (USD14,000) from their mobile money
wallets into bank accounts, as well as wallets and cards where
available, to over 130 countries and territories. Receivers located
in 100 of these countries can have their money transferred to them
in real time. Customers can also transfer money to Western Union
agent locations worldwide. Customers can fund their wallets from
their bank accounts in Jordan, or through cash top-up at Zain’s
vast network of outlets across the Kingdom.
“We are excited to partner with Zain Cash to offer customers an
inclusive, omnichannel approach that enables them to transfer money
globally,” said Jean Claude Farah, President, EMEA/APAC Region,
Western Union. “We believe that not only do partnerships like this
help connect the Middle East to the global financial system, but
also drives financial inclusion – improving access for the millions
of people who do not benefit from traditional banking
services.”
According to the World Bank, Jordan was among the top
remittance-receiving countries in the Middle East and North Africa
in 2021. Remittances accounted for approximately 8% percent of the
country’s GDP. Outbound remittances were around $575 million in
2019.
Farah added, “The extensive support and efforts of the Central
Bank of Jordan has driven the evolution of mobile money at pace,
allowing the country to leapfrog traditional barriers to
development and accelerate economic growth. We are excited to be
part of this success story through the digital partnership with
Zain Cash and look forward to working closely with them to drive
even greater financial inclusion in the country.”
In the coming months, Zain Cash mobile wallet users will also be
able to receive money transfers from around the world.
“We are pleased to partner with Western Union, one of the
leading companies in global remittance services,” said Sultan
Kashoura, General Manager, Zain Cash Jordan. “This partnership
firms up Zain Cash’s mission of providing digital financial
services and leading the Fintech space in Jordan with its
diversified services and solutions.”
Sultan Kashoura added, “Remittances are essential to the
development of the economy, business and people, and through this
collaboration with Western Union, we offer customers the
reliability and convenience of seamless money transfers. Our
collective focus will, of course, be to drive digital
transformation and scale our future plans together to provide
tailored digital financial services to the customers.”
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 Zain Cash
Zain Cash is the leading payment service provider in Jordan,
providing a portfolio of significant digital financial services to
corporates and various advanced solutions in the booming fintech
realm, in addition to tailoring many innovative mobile financial
solutions to customers with the highest levels of security and
convenience. Zain Cash resembles the perfect convenient tool for
corporates and individuals to conduct all financial transaction and
process, with no need to spend any time and effort, as per the
traditional payments. Originally launched in 2011, Zain Cash has
been providing the first of its kind electronic services and
products in the Middle East. Then it has re-launched in 2014, with
a broader scope, richer portfolio, more comprehensive and
integrated ecosystem. Customers can use Zain Cash for both in-store
and online payments, pay bills, transfer money, buy e-vouchers,
receive funds and salaries and much more. On the other side,
corporates can use their Zain Cash “business wallet” to disburse
salaries and receive payments from customers, by choosing from the
multiple payment solutions we provide.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220427005498/en/
Western Union Karen Santos;
Karen.Santos2@westernunion.com
Zain Cash Asal Al Nasser; Asal.AlNasser@jo.zain.com
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