Retail bank Absa and global payment services provider Western Union have launched the Western Union transfer service on all three banking channels, namely branch, mobile and Internet.
The Western Union Money Transfer service is a cash-to-cash, person-to-person transaction that can only be facilitated at selected Absa branches and using Absa Internet and cellphone banking. It provides customers with a trusted and secure medium to send and receive money internationally.
Absa group COO Alfie Naidoo said at the launch that Absa was the first bank globally to offer the service on all three channels. It saw that there was a need for remittance in South Africa and across borders. This service would extend the banking and remittance net to include as many people as possible, while offering convenience and ease of use.
He added that Absa’s approach to financial services was driven by innovation and the significant advances of the bank to directly benefit customers. The collaboration on providing these services sees the first time that banking, money transfers and cybertechnology are applied in an integrated product offering.