(P) One of the biggest fintechs now connects UK and Romania through money wire app
One of the biggest fintech companies in the world today started out by sending telegrams and introduced money transfers as early as 150 years ago. They introduced the first consumer credit cards in the early 1900s and were pioneers for modern SMS and image sending. The company is called Western Union and its money transfer app recently became available in Romania too.
Western Union, which has been an industry leader and innovator in connecting people through its rich history, has launched Western Union Digital Banking accounts in Romania so UK users can send money to Romania.
Those looking to remit funds from the UK to Romania can do so easily through the Western Union UK app and website, available both in English and in Romanian.
Now Western Union users in the UK can choose Digital Bank accounts in Romania as a receiving option, which will make it easier for the person receiving the funds. The money is delivered within minutes, or the transfer can also be scheduled for a later time.
The receiver signs up for a Western Union Digital Bank profile in the app or on the website. If they’ve used Western Union services before with agency pickup, they just have to redirect their MTCN number to a WU+ account, and they can also receive up to RON 100 in bonuses.
Using the Digital Bank makes it easier for the sender too: they can scan their card to quickly set up a card payment and avoid mistakes by using the phone camera, track the transfer in real time and get notified when the receiver collects their money, as well as resend to the same person at a later time, without filling in their details again.
Encryption is used to protect money transfers, as well as PCI DSS compliance rules. Western Union has been at the forefront of technology use throughout its long history. In the first 15 years of activity, it focused on sending telegrams, then it installed the first transcontinental telegraph cable, allowing people on the east coast to communicate with the expanding Western United States.
In 1871, Western Union started offering electronic money transfer services between New York, Chicago and Boston. It expanded nationwide and then globally, after which it moved online at the start of the new millennium, allowing easy money transfers online from any device and around the clock.
In the early 1900s, Western Union was among the first companies to make sending text and images around the world accessible for everyone, through the Telex network, the pioneer for modern SMS. Abbreviations like “<3” or “THX” were originally used to communicate via Telex.
In the 1930s, Western Union had made it possible to send images using Telefax instantly. Later in the early 1970s, they were ahead of the competition when it came to voice messages and email, through Western Union’s Broadband and Mailgram services.
The company continued to stay on the cutting edge of technology thanks to the Western Union® money transfer app. Available in over 35 countries, now including Romania, the app makes it possible to send money on the go from virtually anywhere. With the MTCN tracking number, one can track their transfer directly from their phone and know exactly when it arrives with their receiver.
In the early 2000s, Western Union became a publicly traded company and shifted its focus from communication to cross-border money transfer.
Now, Western Union offers money transfer around the world. Its agent retail network exceeds half a million locations across the globe, and in its digital platform, there are 25 transactions being carried out every second.
Western Union serves millions of retail and digital customers every day, who are able to cash in their payouts at bank accounts and wallets worldwide.
(p) - This article is an advertorial.