Pymnts.com reports that KYODAI Remittance is collaborating with Western Union to introduce cross-border, B2B money transfers for corporate clients in Japan.
The website notes that this is the first time WU is partnering with a Japanese money transfer provider to offer B2B cross-border payments for corporates.
Western Union’s Haruhiko Ohashi, head of Japan, is quoted in the story and he says WU has “worked closely” with KYODAI to create the right “bespoke solution that will integrate our platforms with their environment.”
KYODAI and WU already had a previous relationship going back a number of years, as the two companies have worked together since 2019, offering C2C cross-border payments. A change in Japan’s Payment Services Act earlier this year gave KYODAI the green light to move into B2B, the website adds.
This article was written by PYMNTS and originally published on PYMNTS. A subscription may be required.