Technology makes keeping in touch with friends throughout the world easy. Therefore, businesses must provide the same options for connectivity. Having accessibility to consistent personal funds is a requirement for most of the people. Clients in the financial organization want the ability to transfer funds faster and securely without leaving their homes. For this reasons, the Western Union decided to partner with PSI Pay.
Western Union’s traditional services for wire transfers were slow. Their wire transfers also required clients to physically visit their agents’ location. These inconvenienced their customers. It also posed as a serious competition from their competitors who had fast and secure ways of transferring money. Using PSI Pay under the company’s brand ecoPayz, it is able to overcome these challenges. The organization uses ecoPayz as its online wallet agent.
Through the collaboration, Western Union offers complete solutions for payments to its clients. These include the ability of a person with a payment account from PSI Pay to use the local banks throughout the world. These means that the holder of the account can send money, withdraw funds, or use other services irrespective of where they are. In combination with the capability to receive funds from another individual, the partnership provides opportunities for the two companies.
— PSI-Pay (@PSIPayLtd) August 24, 2015
Furthermore, the collaboration is complex and all rounded. It provides various online financial platforms that Western Union could not provide on its own. The partnership enables transactions to complete just the same way that PayPal or other platforms would transact. Clients are able to send money, receive money and use their funds. Also, ecoPayz offers prepaid cards. Lastly, it does not need saving or checking account used at the various ATMs.
With ecoPayz, a person can deposit money to their account from wherever they are in the universe. The payments cards can also be utilized worldwide where Visa and master card are accepted. These benefit travelers who occasionally go through disputes with their cards getting marked for possible fraudulent activities. The cards also offer travelers with opportunities of withdrawing money safely from ATMs all over the world.