Western Union, a global provider of money-transfer services, has entered into an agreement with Brazil-based Banco do Brasil, to make Western Union Money Transfer Money in Minutes service available online to Banco do Brasil banked consumers through the bank's web site in Brazil.
The online money-transfer service arrangement with Banco do Brasil is part of Western Union’s ‘go-to-market’ strategy in Brazil. Additionally, Western Union looks to tap into cash, account and card-based solutions.
Admilson Monteiro Garcia, managing director of international business division at Banco do Brasil, said: “Our relationship with Western Union offers Banco do Brasil the ability to complement its range of products and services to reach new consumer segments and meet the unique needs of the diverse communities it serves.
“We see Western Union as a strategic brand that, in addition to our Brazilian market and banking expertise, will help Banco do Brasil to continue offering innovative financial services to new and existing consumers and to those who prefer online banking.”
Stewart Stockdale, president of Americas and EVP global cards and global key accounts at Western Union, said: “Our relationship with Banco do Brasil to offer online money transfer is part of Western Union’s new focus on identifying and driving the development of best-in-class services to expand the company’s business to new consumer segments in Brazil.
“Whether it is cash, account, or card based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide.”