PagaPhone and Western Union going to collaborate on the expansion of cross-border transfer payments between America and Mexico and allow WU consumers to get money via their PagaPhone SmartPay account.
Ulises Tellez, CEO and Founder, PagaPhone SmartPay and Cloud Transfer Services, stated “By teaming with Western Union, PagaPhone SmartPay users in Mexico have yet another way to receive money from friends and family cross-border, using a brand known and trusted for decades. He added that adding Western Union’s money transfer capabilities as an option for customers gives them a convenient and efficient way to receive money via their PagaPhone account.”
Consumers of WU who send money to Mexico will be able to use any Western Union platform, be it their mobile app or WU.com or any WU retail location. Mexicans will receive their money in their PagaPhone SmartPay account over their smartphones.
Once the fund has been credited to the PagaPhone SmartPay mobile electronic wallets of recipients, they can send that money further to bank accounts via SPEI. Consumers can also withdraw money from ATMs using their PagaPhone debit cards. They can also use pay directly via the app for any service taken.
Pablo Porro, Head of Western Union Mexico and Central America, commented, “Remittances are a lifeline for so many in Mexico, where more than USD $51 billion was sent into the country just last year. With this surge in remittances, customers demand choice and added convenience for how and when money is sent and received. By teaming with PagaPhone, Western Union is helping bridge the digital and physical worlds to offer consumers more channels and added convenience to send money from the U.S. to Mexico.”
Customers who consistently get remittances can create an income history that would allow them further credit or insurance eligibility.