The agreement also marks WeChat as the first social communication application to provide a technology platform to support person-to-person cross-border money transfer capabilities to over 200 countries and territories. The capability is now available to WeChat users in the US, with planned rollouts to additional countries in the future.
The recently announced WU Connect platform embeds Western Union’s global money transfer capability into third-party digital platforms to provide users with new ways to send money to friends and family. Consumers are able to fund the money transfer utilizing a debit card, credit card or bank account and direct the funds to a Western Union retail agent location around the world, and to a mobile wallet or bank account where available.
WeChat together with its sister product Weixin in China had over 650 million of monthly active user accounts at end of September 2015, bringing together messaging, social communication and games all within on app. Users can choose to send free text and multimedia messages, make video calls or share photos on their closed Moments social network.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now