Cuentas is a leading fintech provider of digital wallets, mobile banking, and payment solutions serving the Hispanic and Latino communities. The firm has integrated Western Union’s domestic and international money transfer features into the Cuentas mobile banking app.
Notably, the Cuentas clients can now send money to over 200 nations and territories through the Cuentas mobile app. While leveraging Western Union’s leading global cross-border, cross-currency platform, the fintech platform’s users can conveniently move their money to family and friends almost throughout the world using their Cuentas mobile banking app.
Once the money is sent, the receivers can pick up their remittance in cash at any Western Union retail location. Cuentas Bridge Digital, Western Union, and Retail Money Transfer Worlds for Latino Community.
The new agreement harnesses the power of Western Union’s vast omnichannel cross-border money transfer capabilities with Cuentas’ convenient mobile banking and payments app for the Hispanic and Latino communities.
Together, the two firms now offer the capability to send money across electronic and retail channels, while offering a superior client experience for the time the money is sent to when it gets received. Cuentas CEO Jeff Johnson said:
“Remittances to Mexico hit an all-time high in 2021, with more than $4 billion sent from the U.S. to Mexico each month – the single largest flow of remittances in the world. With the integration of Western Union into the Cuentas mobile banking app, our customers now have an easy and affordable way to send money not only to Mexico but worldwide as well.”
The head of Western Union’s North America business, Molly Shea, stated:
“Cuentas’ mission to increase its customers’ access to digital and traditional financial services meshes perfectly with Western Union’s ability to provide efficient and convenient cross-border money transfer capabilities. By offering our powerful platform and network to third parties, we are reaching more customers, connecting families and communities, and improving lives through financial inclusion.”