Cuentas, a leading fintech provider of mobile banking, digital wallet and payment solutions serving Hispanic and Latino communities, has integrated Western Unions domestic and international money transfer capabilities into the Cuentas mobile banking app.
Cuentas customers can now send money to 200 countries and territories via the Cuentas mobile app. Leveraging Western Unions leading global cross-border, cross-currency platform, Cuentas customers can conveniently move money to friends and family almost anywhere across the world using the Cuentas mobile app. Once sent, receivers can pick up their remittance in cash at any Western Union retail location.
WU and Cuentas Bridge Digital and Retail Money Transfer Worlds for Latino Community
The agreement harnesses the power of Western Unions vast omnichannel cross-border money transfer capabilities with Cuentas convenient mobile banking and payments app for the Hispanic and Latino communities. Together, both companies now offer the ability to send money across electronic and retail channels, while providing a superior customer experience from the time money is sent to when it is received.
“Remittances to Mexico hit an all-time high in 2021, with more than $4 billion sent from the U.S. to Mexico each month – the single largest flow of remittances in the world,” said Cuentas CEO Jeff Johnson. “With the integration of Western Union into the Cuentas mobile banking app, our customers now have an easy and affordable way to send money not only to Mexico but worldwide as well.”
“Cuentas mission to increase its customers access to digital and traditional financial services meshes perfectly with Western Unions ability to provide efficient and convenient cross-border money transfer capabilities,” said Molly Shea, Head of Western Unions North America business. “By offering our powerful platform and network to third parties, we are reaching more customers, connecting families and communities, and improving lives through financial inclusion.”
Available in the Apple App Store and the Google Play store, the Cuentas App is the convenient mobile banking app that gives consumers access to their money, their way. Cuentas cardholders can send money to other Cuentas cardholders with no fee, access exclusive cardholder discounts and get access to their money up to two days faster when they directly deposit their wages or government benefit checks.
Cuentas, Inc. (NASDAQ:CUEN & CUENW) is a fintech e-banking and e-commerce service provider with proprietary technology that delivers digital financial services to the underbanked and un-banked Hispanic, Latino and immigrant populations including mobile and online banking, prepaid debit, ACH and mobile deposits, cash remittance, peer to peer money transferring, and other services. The Cuentas General Purpose Reloadable (GPR) Card includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content.
This news release contains “forward-looking statements”, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “believe”, “plan”, or “expect” or similar statements are forward-looking statements.
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