SEOUL, South Korea–(BUSINESS WIRE)–Western Union, a worldwide chief in cross-border, cross-currency cash motion and funds, and Korea Investment & Securities (Korea I&S), one of many main suppliers of monetary providers in South Korea, collaborate to supply Western Union consumer-to-consumer cash transfers, by way of retail and digital channels.
Korea I&S account holders in South Korea could select to ship Western Union cash transfers by way of truefriend.com or the corporate’s cellular app (accessible for Android and iOS), or ship and obtain at greater than 88 Korea I&S places throughout the nation. Cash transfers despatched by way of Korea I&S digital or retail channels might be paid out into recipient financial institution accounts in choose international locations1 or at greater than 550,000 retail places in additional than 200 international locations and territories.
The digital service functionality can be operational within the coming months to allow Korea I&S account holders to obtain cash transfers by way of net and app.
Main regional companions have seamlessly built-in Western Union’s cross-border, cross-currency cash transferring capabilities into their platform, giving prospects the comfort and option to switch cash worldwide. Western Union has opened its platform to allow leaders in e-commerce, telecommunications, monetary providers, and different sectors to broaden into new markets and broaden service for his or her prospects.
“Western Union is a worldwide chief in cross-currency, cross-border cash motion, enabled by know-how,” stated Ok. Premmananth, Head of Community, Singapore, Indonesia and North Asia, Western Union. “We’ve got challenged ourselves to leverage our platform to supply many new methods for our prospects and shoppers to maneuver cash globally. We’re delighted to collaborate with Korea I&S, offering a multi-channel providing connecting the digital with the bodily and servicing a multi-generational person base.”
“At Korea I&S, our dedication is to serve our prospects effectively whereas exploring new methods to satisfy the altering wants of our prospects,” stated Simon SP Mun, Government Vice President, Korea Funding & Securities. “Western Union units the usual for worldwide cash motion and we’re excited to collaborate with them, giving our prospects higher ease and entry in each transaction they make whereas upholding what issues most to them– pace, reliability and comfort.”
- To ship and obtain cash at places, account holders can stroll into greater than 88 Korea I&S places and course of their cash transfers. Senders can fund their transfers from their accounts, and South Korean receivers can direct their cash transfers into their accounts.
- To ship cash by way of a cellular app, prospects can fund their cash transfers by their Korea I&S account.
In keeping with Korea’s native legal guidelines and laws, earlier than the primary use of the service, prospects can go to any Korea I&S location to open an account and for verification, or they will register on the cellular app and go for digital verification. Acceptable IDs embody, amongst different choices, a legitimate resident registration ID or a driver’s license.
As soon as the account is verified and lively, prospects can conveniently ship and obtain Western Union cash transfers at both Korea I&S places, or ship by way of their cellular app anytime—with just a few clicks.
Prospects can study extra by calling the CS Heart Native Line 1544-5000 or CS Heart Abroad +82-2-2090-4000 or by visiting www.truefriend.com for assist.
About Western Union
The Western Union Firm (NYSE: WU) is a worldwide chief in cross-border, cross-currency cash motion and funds. Western Union’s platform gives seamless cross-border flows and its main international monetary community bridges greater than 200 international locations and territories and over 130 currencies. We join companies, monetary establishments, governments, and shoppers by one of many world’s widest reaching networks, accessing billions of financial institution accounts, tens of millions of digital wallets and playing cards, and over half 1,000,000 retail places. Western Union connects the world to convey boundless potentialities inside attain. For extra info, go to www.westernunion.com.
About Korea Funding & Securities
Korea Funding and Securities Co., Ltd. (Korea I&S) is without doubt one of the largest securities corporations in Korea.
This firm was based as “Korea Funding Administration” in 1974 and was merged by “Dongwon Securities Co., Ltd” in 2005 to change into Korea I&S.
Korea I&S has 88 department places in addition to digital channel (Net, cellular apps) with 5M buyer base and is providing a broad vary of monetary providers together with funding, buying and selling, brokerage, belief, wealth administration and so forth focusing on mainstream Koreans in Korea. Based mostly on FY2019 monetary knowledge, Korea I&S’ whole asset is US$ 37 Billion, and income is US$ 6.7 Billion.
1 Australia, Austria, Brazil, Canada, China, Denmark, France, Germany, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, Philippines, Russia, Sweden, Thailand, United Kingdom, United States, Vietnam.