UAE- Western Union launches mobile app, online services

Global cross-currency money transfer platform Western Union (WU) has launched its mobile application and online services in seven countries across the Middle East during an event that saw the iconic Burj Khalifa turn yellow and black.

The WU mobile app and the website launch was announced through a projection on the world's tallest building on Sunday.

The firm has launched its digital services in partnership with Al Fardan Exchange, its local agent.

While sending cash, the app facilitates real-time account debit or a bank transfer that takes "one to two business days". Meanwhile, the receiver can either collect the money from a WU agent location or directly deposit the money into their bank account, depending on the country where the amount is being remitted to. The cost of transactions remains Dh15.

"Our system automatically handles complexities from compliances to volatile currency exchanges so users can transfer money 24/7 to nearly every country across the world, with the touch of a few buttons," said WU president and CEO Hikmet Ersek.

The app as well as the website went live in the UAE on Sunday. The UAE is the third-largest person-to-person remittance market in the world, according to the World Bank.