Western Union Accelerates Global Digital Expansion
August 29 2018 - 8:43AM
Business Wire
Digital Money Transfer Services Expands To
Asia, Latin America and The Middle East – Now also Live in Brazil
and Qatar and Connects to More Than 200 Countries And
Territories
Western Union Digital, the fastest growing part of Western
Union’s business, is gaining momentum as the company, today,
announced the acceleration of its digital footprint. The Western
Union Company (NYSE: WU), a leader in cross-border and
cross-currency money movement, is rapidly deploying digital
services across major regional economic hubs of Asia, Latin America
and the Middle East, connecting them 24/7 to more than 200
countries and territories, including billions of consumer bank
accounts.
In the next few years, Western Union’s digital expansion plans
include scaling to more than 200 countries and territories with
emphasis on the mobile channel from which approximately 70% of
Western Union’s digital transactions globally originate.
In Asia, with Hong Kong already live, Malaysia, and
Singapore will commence services over the next few weeks. In
Latin America, Brazil, Jamaica and Panama are live with
Mexico set to follow and in the Middle East, Bahrain,
Kuwait, Qatar and Oman are live with United Arab Emirates to launch
thereafter. Western Union already has a full digital offering in
North America, across major parts of Europe and
Australia and New Zealand.
“Our ability to scale our services globally is underpinned by
deep expertise, a sophisticated cross-border, cross-currency
platform – with global settlement, treasury and compliance
infrastructure, a vast global network of over half a million
locations, and the ability to send money to billions of accounts
and mobile wallets,” said Western Union CEO and President Hikmet
Ersek.
“Our platform sets the standard for international money movement
as we serve an ever-broader array of customers, giving them greater
ease, access and confidence in every transaction they make, while
upholding what matters most to them– speed, reliability,
convenience and trust. No one moves money farther with multiple
channel choice,” said Ersek.
About Western Union’s Cross-Border Platform
Western Union’s cross-border, cross-currency platform –
including a robust digital footprint, settlement, treasury and
compliance infrastructure, and a vast global network of over half a
million locations, and the ability to send money to billions of
consumer accounts and mobile wallets – sets the standard for
international money movement. With operations in 200 countries and
territories, Western Union’s platform processes an average of 32
transactions every second and moves $300 billion a year across 130
currencies.
Connecting the digital and physical worlds of money, Western
Union’s technology stack, APIs, foreign exchange and settlement
engine, agent network, anti-money laundering and fraud detection
capabilities make it one of the largest digital and physical money
movers for consumers around the globe.
WU-G
For more information, visit the Western Union newsroom at
www.westernunion.com/news.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement. Our omnichannel
platform connects the digital and physical worlds and makes it
possible for consumers and businesses to send and receive money and
make payments with speed, ease, and reliability. As of June 30,
2018, our network included over 550,000 retail agent locations
offering Western Union, Vigo or Orlandi Valuta branded services in
more than 200 countries and territories, with the capability to
send money to billions of accounts. Additionally, westernunion.com,
our fastest growing channel in 2017, is available in 45 countries
and territories to move money around the world. In 2017, we moved
over $300 billion in principal in nearly 130 currencies and
processed 32 transactions every second across all our services.
With our global reach, Western Union moves money for better,
connecting family, friends and businesses to enable financial
inclusion and support economic growth. For more information, visit
www.westernunion.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180829005396/en/
Western UnionPia De Lima, +1
954 260 5732pia.delima@wu.comorJohn Derryberry, +1 415 203
8762john.derryberry@wu.com
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