Western Union and Hyperwallet, a payment tech firm, will partner to launch a new global mass payment product.

Hyperwallet, which provides a variety of digitally-centered payment methods, will integrate those into Western Union's network, which claims access to a large portion of the world. The partnership, announced March 23, appears to be part of the larger pursuit of speedy, cheap international payments, in part to target a remittance market expanding due to increased globalization. 

"By integrating our payments ecosystem with Hyperwallet's platform, we have enabled a mass payment product that will help change how global payments are made today, while helping meet the rigorous compliance demands faced when making global payments," Western Union's president of business solutions, Kerry Agiasotis, said in a press release.

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