The Western Union Company and Acxsys Corporation, the company behind Canada's Interac money transfer service, announced an agreement to offer Western Union's domestic and international money transfer services to FIs in Canada that offer Interac e-Transfer.

With the agreement, Canadian customers can use the enhanced Interac e-Transfer service and Western Union to send and receive money transfers directly through their online and mobile bank accounts worldwide. Prior to the agreement, Interac e-Transfer services only allowed for account-to-account transfers within Canada.

"By entering into this agreement, Western Union and Acxsys Corporation will help meet the prevailing need for Canadian financial institution customers to conveniently send money around the corner and the world, with fund payout options," said Stewart A. Stockdale, executive vice president and president, Global Consumer Financial Services, Western Union.

More than 90 FIs in Canada that offer the Interac e-Transfers will now offer the Western Union global money transfer service enhancement. Interac e-Transfer services let customers send and receive money from one bank account to another through online or mobile banking. The transfer is keyed to either a mobile phone number or an email address.

For more stories like this, visit the Money Transfer/P2P research center.

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