Western Union has announced a partnership with Plaid to leverage its open banking infrastructure for money transfers in Europe. This move is expected to improve the payment experience for end users by offering faster and more secure transactions without compromising user experience.
By utilizing open banking technology, Western Union customers in Europe will have the flexibility to send money to family and friends in a seamless manner. The funds transferred through Western Union will be faster and more secure, with higher safety thresholds, all while maintaining a smooth user experience.
According to Brian Dammeir, Head of Europe at Plaid, consumers are seeking simpler cross-border payments that are secure. The collaboration with Western Union will enable users to make larger payments in a safer and faster way. This advancement in technology will also create operational efficiencies for Western Union employees, streamlining internal operations and enhancing payment infrastructure across Europe.
Bart Stence, VP Omnichannel Marketing at Western Union, expressed excitement about the collaboration with Plaid to offer a new and easier way of conducting money transfers. This partnership highlights Western Union’s commitment to innovation in providing customers with the flexibility and trust they seek in financial transactions.
Overall, the integration of open banking payments through Plaid’s infrastructure is set to revolutionize money transfers in Europe, delivering a more efficient and secure experience for both customers and employees.
