When Western Union looks at a mobile phone, we see more than a just device to make calls or send text messages. We see a new tool in the hands of a globally mobile workforce and a networked connection to family and friends.
With 3 billion mobile phones active worldwide – now more phones in developing economies than developed1 – it is clear the mobile phone is as essential in Manila and Mumbai as it is in New York and London.
A key part of the Western Union® business strategy is to offer consumers convenience and choice. The Western Union® mobile money transfer program will provide consumers with an additional option to send and receive funds how, where and when they want.
How Will it Work?
Western Union and the GSM Association (GSMA), a global trade group representing over 700 GSM mobile phone operators, are working together to develop a commercial and technical framework that mobile operators can use to deploy services that enable consumers to send and receive low-denomination, high-frequency money transfers using their mobile phones.
Western Union recently announced the first three mobile operators to participate in this initiative:
- Globe Telecom (Philippines)
- Smart Communications (Philippines)
- Bharti Airtel (India)
The first commercial services began in the second quarter of 2008.
More Ways to Send Money
If your mobile operator works with Western Union, using the mobile money transfer service could potentially be like having access to 200 countries and more than 300,000 Agent locations in your pocket. Western Union’s unique program will allow anyone to use the mobile money transfer service – even if they don’t have a mobile phone!
At full deployment, consumers will be able to send and receive funds three ways:
- Cash to Mobile: A consumer can take cash to a participating Western Union Agent location in select countries and provide the recipient’s mobile number and the send amount. Western Union will take care of the rest.
- Mobile to Cash: A consumer with a mobile-enabled account can send an amount to be picked up by the recipient at a participating Western Union Agent location worldwide. The receiver is notified of the arrival of the funds by text message.
- Mobile to Mobile: Using a mobile phone, a consumer with a mobile-enabled account can send funds to a recipient with a mobile-enabled account. Funds are added directly to the recipient’s account balance.
Why Western Union?
- The Mobile Money Transfer service will leverage the same trusted platform used by more than 300,000 Western Union Agents in over 200 countries.
- Western Union has extensive compliance capabilities and systems and the experience to handle cross-border transactions.
- Consumers trust the Western Union brand.
1Source: GSMA
