Fintech & Ecommerce

Western Union Connects Virtual Wallets to eSIM Mobile Service

The company eSIM Go has added Western Union digital wallets to its mobile data service.

Western Union Connects Virtual Wallets to eSIM Mobile Service

The mentioned integration became known on Wednesday, March 27. In this case, coverage is provided in more than 150 countries with the eSIM Go Powered by Breeze offer.

Providing digital wallet customers with global connectivity has a dual purpose. In this case, one of the advantages of the solution, which was announced on Wednesday, is to facilitate travel. Global connectivity also optimizes access to digital banking services from anywhere in the world.

Western Union eSIM cards will provide customers with hassle-free access to wallet-friendly data roaming, which can be used either on their next foreign trip or to send funds to relatives and friends living abroad.

Western Union digital wallet users in Germany, Italy, Poland, and Romania will be able to apply the solution from their digital banking app and make transactions in their chosen language and currency.

eSIMs, which are electronic versions of mobile phone SIM cards, can be purchased 12 months before activation in bundles of various sizes and installed on any compatible device. After purchasing the same eSIM profile, it is easy to top up or add coverage in extra countries. This solution allows customers to transfer money using Western Union services while traveling.

Currently, digital wallets are gradually transforming into a way in which consumers want to manage the day-to-day transactional aspects of their lives. In this case, people tend to know how and to whom they pay, how much they spend, and how much they have the funds to continue the relevant activity. Against the background of the mentioned preferences, a steady consumer interest in the concept of an everyday app is being formed. In the United States, about 75% of consumers demonstrate a desire to use the convenience and simplicity of such tools.

In March, Western Union also expanded the scope of cooperation with Visa. The companies have entered into a new agreement focused on cross-border payment transactions. In this case, Western Union customers can send money to loved ones, Visa cards, and bank accounts in 40 countries.

In the fourth quarter of 2023, in the mentioned company’s functional network digital transactions grew by 13% year-on-year. The Western Union App is currently available to users in 12 countries. More than 200,000 customers in Europe and about 50,000 more clients in Argentina are onboarded to the company’s digital wallet.

The results of Western Union’s operations for the fourth quarter of last year are evidence of the popularity of digital channels. This means that multichannel is likely to become the main operating direction for the company in the foreseeable future.

Devin McGranahan, CEO of Western Union, commenting on the results of operations for the last quarter of 2023, said that it had been almost ten years since the firm had provided transaction growth of more than 5% for several consecutive quarters, except for the recovery period after the coronavirus pandemic. According to him, the company’s business related to retail money transfers has significantly scaled over the past couple of years.

Serhii Mikhailov

2521 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.