Western Union continues to make strides in entering the crypto space. Its most recent move entails a partnership with a Philippines-based e-wallet provider. The lucky partner is Coins.ph, a blockchain-based financial services outfit whose mission includes helping people who do not have bank accounts. In addition to providing a means for crypto purchases, Coins.ph provides mobile wallets and...
Western Union is pushing further into the crypto world, teaming up with a cross-border payments network so its customers can take advantage of mobile wallets. The network is Thunes, and through it, Western Union customers can send funds directly into a recipient’s mobile wallet. All they need to do is go online or visit one of the many agent locations just as they do to make traditional transfers...
Opinions expressed in this article are those of the author alone. While some conservatives are focused on fomenting national security with barriers, cryptocurrencies have at their heart a mission to cut across national boundaries. Money talks, and cryptocurrency enables anyone to talk to each other, instantly and with lower fees and fewer middle men. The race is on for who will facilitate the...
American based financial service Western Union is finally ready for cryptocurrencies. In a video interview with Reuters Plus, Western Union President Odilon Almeida said the company has been evaluating the use of cryptocurrency. They are also exploring how they can improve their service delivery using blockchain technology. Western Union is interested in adopting cryptocurrencies as an option for...
According to a survey conducted by Humans.net, a job recruitment platform, 29 percent of freelancers would rather get paid in crypto over legacy systems and banks. The survey, which covered 1,100 U.S.-based freelancers, disclosed that 18 percent of the respondents would like to receive all of their payments in crypto while 11 percent would prefer to receive a portion of their payments using...
With a daily transaction volume of over $8 billion, Bitcoin (BTC) is on track to overtake Mastercard, the second largest credit card network in the world, in volume. On October 30, Mastercard released its financial results of the third quarter of 2018. Year-to-date, the credit card company has processed around $4.4 trillion. On a daily basis, Mastercard has settled nearly $12 billion per day...
A newly-published Western Union patent envisions a system that manages recurring transfer notifications and secure payments for a cryptocurrency network. According to filing documents published by the U.S. Patent and Trademark Office on Thursday, the Englewood, CO-based firm -- the largest money transfer service in the world -- has sought to devise a method to increase the security of electronic...
Western Union, the largest money transfer service in the world, made waves earlier this year when it confirmed that it had partnered with Ripple to conduct a blockchain trial involving the XRP cryptocurrency. However, six months into that test, Western Union CEO Hikmet Ersek said that the firm has yet to see any real cost savings that warrant overhauling its system to use XRP for cross-border...