Western Union is partnering with FinTech Linxo to advance digital money transfers and enable the 3.5 million Linxo users to tap Western Union’s platform for domestic and global payments.
Massimiliano Alvisini, head of Europe, CIS, and Africa Network at Western Union, said in a press release on Tuesday (June 29) that the collaboration will give Linxo users access to the “broadest digital global network coverage” available in the cross-border, peer-to-peer money transfer space.
He added that Western Union aims to collaborate with FinTechs, financial institutions, and post offices worldwide so that they can offer their customers “flexibility and trust underpinned by technology, customer experience and compliance.”
Headquartered in France and founded in 2010, Linxo’s app-based platform offers transaction management and bank account aggregation.
“Our ambition was to create a virtuous and open ecosystem. With the integration of the Western Union platform, this is now a reality. And we will continue to integrate new value-added services to provide our users with a quality service that exceeds their expectations within the Linxo application,” said Bruno Van Haetsdaele, CEO and co-founder of Linxo Group.
He added that the integration will give its users expanded financial management capabilities using just one platform, including the ability to send money to family and friends.
Western Union’s worldwide financial network bridges 200-plus countries and territories, connecting companies, banks, government, and individuals and more than 130 currencies.
Linxo Group is a subsidiary of Crédit Agricole Payment Services, which uses Crédit Agricole Group for interbank representation and other services. Aside from offering account aggregation and final finance management, Linxo Group also has been developing new tools for digital payments.
In a PYMNTS Trend Talk in March, Rebecca Mann, head of enterprise partnerships, commercial development, Western Union, said banks will fall way behind FinTechs unless they invest in tech and team up with plug-and-pay platforms.