Western Union Expands Business Solutions to the Philippines
May 10 2011 - 5:49PM
Business Wire
The Western Union Company (NYSE:WU), a leader in global payment
services, announced today that it will launch its international
business payments service in the Philippines.
Petnet Inc. - a veteran Western Union Agent for consumer money
transfer services – has signed an agreement to offer Western Union
Business Solutions in the Philippines. Western Union Business
Solutions provides cross-border business payments and foreign
exchange solutions to small and medium sized businesses (SMEs).
“With a thriving import market for food products and beverages,
textiles, chemicals, travel and wholesale/retail trade, the
Philippines presents a compelling opportunity for our international
business payments service,” said Raj Agrawal, General Manager,
Western Union Business Solutions.
“A large percentage of local businesses are small enterprises
with many conducting cross border trade. Coupled with universal
Western Union brand recognition in the country, we are poised to
change the way international commerce is done in the Philippines,”
Agrawal said.
By adding Western Union Business Solutions to its product
portfolio, Petnet can offer SMEs service delivery for global
business payments at competitive exchange rates, to over 200
countries and territories.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. The
Western Union, Vigo and Orlandi Valuta branded services are offered
through a combined network of 455,000 agent locations in 200
countries and territories. In 2010, The Western Union Company
completed 214 million consumer-to-consumer transactions worldwide,
moving $76 billion of principal between consumers, and 405 million
business payments. For more information, visit
www.westernunion.com.
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