Western Union, the global remittance specialist, and MasterCard have entered into a deal that will enable remittances originated from nearly anywhere across the globe to be received on Maestro and MasterCard consumer cards using ATMs across Romania, one of the largest remittance receivers in Eastern Europe.
Western Union is teaming up with MasterCard in Romania
An innovative tripartite agreement between Western Union, MasterCard and Banca Transilvania (BT) will provide the choice to millions of cardholders to withdraw international remittances from over 900 BT-owned ATMs in Romania. The service is expected to be activated later this year.
The initiative adds to Western Union’s growing foray in directing global remittances into account-based channels. More than 16.5% of Romanians live outside of Romania’s borders, according to the International Organization of Migration. A significant number live in Italy, Germany and Spain. Collectively, these three countries account for more than 50% of cross-borders transfers into Romania.
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