AMMAN, Jordan--(BUSINESS WIRE)--Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments and Zain Cash, the award-winning mobile financial services arm of Zain - a leading mobile telecom operator in the Middle East, today announced the launch of Western Union digital money transfer services through the Zain Cash mobile wallet.
The launch means that over 250,000 Zain Cash customers in Jordan can now send up to JOD10,000 (USD14,000) from their mobile money wallets into bank accounts, as well as wallets and cards where available, to over 130 countries and territories. Receivers located in 100 of these countries can have their money transferred to them in real time. Customers can also transfer money to Western Union agent locations worldwide. Customers can fund their wallets from their bank accounts in Jordan, or through cash top-up at Zain’s vast network of outlets across the Kingdom.
“We are excited to partner with Zain Cash to offer customers an inclusive, omnichannel approach that enables them to transfer money globally,” said Jean Claude Farah, President, EMEA/APAC Region, Western Union. “We believe that not only do partnerships like this help connect the Middle East to the global financial system, but also drives financial inclusion – improving access for the millions of people who do not benefit from traditional banking services.”
According to the World Bank, Jordan was among the top remittance-receiving countries in the Middle East and North Africa in 2021. Remittances accounted for approximately 8% percent of the country’s GDP. Outbound remittances were around $575 million in 2019.
Farah added, “The extensive support and efforts of the Central Bank of Jordan has driven the evolution of mobile money at pace, allowing the country to leapfrog traditional barriers to development and accelerate economic growth. We are excited to be part of this success story through the digital partnership with Zain Cash and look forward to working closely with them to drive even greater financial inclusion in the country.”
In the coming months, Zain Cash mobile wallet users will also be able to receive money transfers from around the world.
“We are pleased to partner with Western Union, one of the leading companies in global remittance services,” said Sultan Kashoura, General Manager, Zain Cash Jordan. “This partnership firms up Zain Cash’s mission of providing digital financial services and leading the Fintech space in Jordan with its diversified services and solutions.”
Sultan Kashoura added, “Remittances are essential to the development of the economy, business and people, and through this collaboration with Western Union, we offer customers the reliability and convenience of seamless money transfers. Our collective focus will, of course, be to drive digital transformation and scale our future plans together to provide tailored digital financial services to the customers.”
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.
About Zain Cash
Zain Cash is the leading payment service provider in Jordan, providing a portfolio of significant digital financial services to corporates and various advanced solutions in the booming fintech realm, in addition to tailoring many innovative mobile financial solutions to customers with the highest levels of security and convenience. Zain Cash resembles the perfect convenient tool for corporates and individuals to conduct all financial transaction and process, with no need to spend any time and effort, as per the traditional payments. Originally launched in 2011, Zain Cash has been providing the first of its kind electronic services and products in the Middle East. Then it has re-launched in 2014, with a broader scope, richer portfolio, more comprehensive and integrated ecosystem. Customers can use Zain Cash for both in-store and online payments, pay bills, transfer money, buy e-vouchers, receive funds and salaries and much more. On the other side, corporates can use their Zain Cash “business wallet” to disburse salaries and receive payments from customers, by choosing from the multiple payment solutions we provide.
