Western Union

Western Union made an investment in US firm Walletron, as the money transfer giant adjusts to a market where payments are moving increasingly to mobile devices.

South Africa’s First National Bank (FNB) is launching its own-brand Android smartphone, the ConeXis, on 1 September to offer “true mobile banking”. The ConeXis X1 and A1 handsets will be distributed via the bank’s branches around the country.

Western Union and messaging app WeChat joined forces in the US, as the traditional money transfer giant faces a competitive threat to its core business from mobile-based newcomers as well as social media and messaging firms.

Money transfer giant Western Union is trying to hit back at mobile upstarts and larger rivals taking aim at its core business.

MTN Mobile Money subscribers in Cote d’Ivoire can now receive international transfers into their accounts via Western Union. The two companies are building on an existing relationship in Uganda.

Western Union is an iconic brand. The yellow-and-black logo is ubiquitous on streets across the world where it is associated, particularly for immigrants, with sending money home to their families.

Xoom, a US firm that enables P2P money transfer either online or via smartphone, has debuted on Nasdaq. The company’s target market is US immigrants who want to send money back to their home country.   It has collected $101.