Visa and Western Union have announced a new seven-year agreement.

Under the new deal, Western Union customers will be able to send money to eligible Visa cards and bank accounts across 40 countries.

The agreement includes card issuance, Western Union’s integration with Visa Direct, and value-added services delivery including risk products.

Western Union customers will also be able to receive Visa prepaid cards in select markets.

“People rely on remittances to send lifeline payments to their loved ones overseas,” said Chris Newkirk, global head of commercial & money movement Solutions, Visa. “When we consider the urgency and need for accessibility, secure payment options with added convenience can make all the difference,”

Newkirk continued: “Visa’s global scale and Western Union’s digital capabilities are revolutionising how customers send funds around the world. We are proud to offer more people fast and efficient solutions for cross-border payments.”

The companies said that they would also develop disbursement programmes for humanitarian organisations and governments to support the delivery of critical funds during a disaster.

The programme are intended to support emergency and humanitarian payouts, cross-border pension payouts, and domestic benefits and disbursement payouts.

“Aspiring populations around the world rely on Western Union to provide them with innovative and accessible financial services that offer flexibility, value and trust,” said Sam Jawad, head of ecosystem, at Western Union. “By strengthening our strategic collaboration with Visa, together we will deliver impactful products and services that can help empower our customers to build a life of opportunity for themselves and their loved ones.”

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