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Non-Tech : Visa Inc. (NYSE: V)

V 355.14

+0.5%

9:30 AM EST

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From: JakeStraw	6/6/2019 1:56:40 PM
	of 28

Visa and Western Union to Bring Speed, Simplicity and Transparency to Global Payments New collaboration to modernize global money movement for expedited cross-border money transfers businesswire.com Nearly $80 trillion (US) of money is sent via a wire transfer or bank account globally today, but the process is harder and more complex than it should be. Money can take days to arrive because of outdated, multi-step, costly methods. 85% of all transactions are still in cash, or other physical currency. The digitization and improvement of these solutions are core to both Visa’s and Western Union’s payment modernization strategies. “Together Visa Direct and Western Union are collaborating with plans to scale real-time cross border payments to businesses and consumers in more than 200 countries and territories in more than 130 currencies,” said Bill Sheley, global head of push payments, Visa. “This new strategic relationship with Western Union combines the industry-leading capabilities of the world’s largest remittance provider with Visa’s global reach, risk management abilities and operating scale, to bring exceptional value propositions and user experiences to senders and receivers around the globe.”

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