# Social Fund-Sending Apps Western Union's New Online Money Transfer is Integrated with Social Media By Charlotte Joyce Kidd | Published 2015-10-27 | Business Source: Trend Hunter, https://www.trendhunter.com/trends/online-money-transfer References: [techcrunch](http://techcrunch.com/2015/10/26/western-union-offers-new-money-transfer-product-for-social-media-and-messaging-companies/?ncid=rss) & [westernunion](https://www.westernunion.com/us/en/send-money-online.html) Western Union's new online money transfer service will tap into its customers' existing networks by integrating itself with the world's biggest social media platforms. Western Union was once the best-known and most dominant telegram company in the United States -- a service it only discontinued in 2006. Today, Western Union specializes in money transfer between corporations and individuals. Lately, however, smaller start-up businesses with easy-to-use online money transfer apps have been eating into Western Union's market. In order to keep up, the 164-year-old company has announced the creation of a new online money transfer service called WU Connect. WU Connect "integrates with social media and messaging services to transfer money worldwide," making it an advanced, easy-to-use online money transfer platform. While older consumers still tend to prefer more conventional methods of payment and money transfer, millennials are willing to sacrifice a sense of traditional security for the convenience of being able to handle their finances as efficiently and conveniently as possible. ## Trend Insights (Trend Hunter) - Score: 3.0/10 - Popularity: 34% | Activity: 48% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America, Europe, Asia ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Business](https://www.trendhunter.com/business) > [New Ventures](https://www.trendhunter.com/newventures) ## Key Themes ### What's Driving This Trend - **Online Money Transfer:** The integration of social media and messaging services in online money transfer platforms presents opportunities for seamless financial transactions. - **Easy-to-use Apps:** The rise of smaller start-up businesses offering user-friendly online money transfer apps highlights the demand for simple and intuitive financial solutions. - **Millennial Financial Preferences:** Millennials' willingness to prioritize convenience over traditional security in financial matters suggests a need for innovative solutions that cater to their preferences. ### Who This Affects Most - **Fintech:** The Fintech industry can leverage the integration of social media and messaging services to create disruptive online money transfer solutions for users. - **Mobile Payments:** The mobile payments industry can capitalize on the demand for easy-to-use apps by developing seamless mobile money transfer platforms for consumers. - **Financial Services:** With the shifting preferences of millennials, the financial services industry has an opportunity to innovate and create financial products that prioritize convenience without compromising security. ## Related on Trend Hunter - [African Digital Wallet Platforms](https://www.trendhunter.com/trends/union54.md) - [Global Money-Transferring Apps](https://www.trendhunter.com/trends/hsbc-2.md) - [Social Messaging Money Transfers](https://www.trendhunter.com/trends/payments-on-viber.md) - [Cross-Border Remittance Features](https://www.trendhunter.com/trends/e-egypt.md) - [Global Money-Managing Apps](https://www.trendhunter.com/trends/zing.md) - [Visual Payment Apps](https://www.trendhunter.com/trends/vizme.md) - [Universal Payment Wallets](https://www.trendhunter.com/trends/novi.md) - [Interconnected Messaging Ecosystems](https://www.trendhunter.com/trends/interconnected-messaging-ecosystem.md) - [App-Based Employee Payments](https://www.trendhunter.com/trends/instant-financial-1.md)