Real-Time Payments into Select Bank Accounts
and Wallets now in 50 Countries
Western Union (NYSE: WU), a leader in cross-border,
cross-currency money movement and payments, today announced
continued expansion of its Global Network for real-time
money-movement and payments, benefiting the Company’s consumers and
clients across its branded money transfer and payments business as
well as its expanding white-label business.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200423005498/en/
Western Union’s vast global retail network of over 550,000 agent
locations across more than 200 countries and territories has
offered in-minutes payout for many decades. And now Western Union
customers have the choice of moving funds globally with speed, with
the company’s expanded capability to send cross-border,
cross-currency money transfers and payments real-time to 50
countries when paid into select banks and digital wallets. The
expansion has been fast-tracked since the beginning of this year
with the goal of assessing as many as 100 countries for real-time
capabilities by the end of 2020. Western Union’s global network now
includes more than four billion bank account and wallets.
Western Union’s expansion of digital pay-in and pay-out, a
strategic pillar for years, has become an especially critical
capability as people around the world continue sending money to
their loved ones and making business payments during the COVID-19
pandemic. During the crisis, Western Union has focused on
accelerating the expansion of its digital money transfer
capabilities so more consumers and business can make essential
cross-border payments and transfers from the safety of their
homes.
Last month, Western Union announced the expansion of its digital
money transfer services, the fastest-growing part of its business
in 2019, to more than 75 countries. The Company’s digital services
capture all the top 20 of the world’s primary remittance-sending
countries ranked by the World Bank. Similarly, the Company’s global
bank account and wallet payout network, along with in-minutes
payout capability to select bank accounts and wallets, covers most
of the world’s major remittance-receiving countries. Given the
critical nature of money movement during the COVID-19 crisis, this
end-to-end coverage assures that these reliable, convenient digital
services are available to millions of the world’s most active money
movers.
“Western Union is continuing to execute on its strategy by
investing in and growing our global network to empower businesses
and consumers to move money or make payments how they choose, to
where they choose, as quickly as possible,” said Western Union
President and CEO Hikmet Ersek. “The COVID-19 crisis has
strengthened our commitment to be a reliable partner for people and
enterprises to move funds globally in real-time.”
Ersek said, “This is a prime example of how the expanding global
reach, interconnectedness and speed of Western Union’s global
network generates customer benefits that are difficult to match.
Our unique platform cuts through international complexities so
customers can access their funds in real-time in more and more
places. As we expand from our roots in consumer remittances, we’re
positioning ourselves as the platform of choice for next-generation
payments businesses and financial institutions and their diverse
cross-border payments needs.”
Western Union’s consumer-to-consumer money in-minutes
cross-border payments capability is now active when sending to
select banks or digital wallet providers in 50 countries: Austria,
Bangladesh, Bulgaria, Burundi, Cambodia, Cameroon, China, Costa
Rica, Cyprus, Czech Republic, Democratic Republic of Congo (DRC),
Denmark, Estonia, Ethiopia, Fiji, Finland, France, Ghana,
Guatemala, India, Indonesia, Italy, Ivory Coast, Kenya, Latvia,
Lithuania, Luxembourg, Malawi, Mexico, Mongolia, Mozambique, Nepal,
Netherlands, Nigeria, Pakistan, Philippines, Portugal, Rwanda,
Senegal, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Turkey,
Uganda, Ukraine, United Arab Emirates, Zambia and Zimbabwe.
Accelerating Access to Cross-Border Transfers
In-Minutes
The advancement of Western Union’s global cross-border,
cross-currency money movement platform – including international
real-time cross-border transfers, global settlement capabilities,
network, compliance and technology systems — is positioning the
company as the world’s foremost integrator of money movement and
payments, globalizing services for its own customers as well for
financial institutions and other payment providers.
In addition to its expansive digital footprint and settlement
and compliance infrastructure, Western Union boasts a global retail
network with in-minutes payout to more than 550,000 agent locations
across more than 200 countries and territories.
Western Union’s recently announced open-platform strategy is
allowing the company to innovatively connect the digital and
physical worlds of money while helping leading organizations scale
their services globally. The company offers banks and other payment
providers a portfolio of application programming interfaces (APIs)
to integrate with its cross-border, cross-current money movement
platform with the added benefit of Western Union’s treasury
management, reconciliation, and global compliance capabilities.
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. 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
December 31, 2019, our network included over 550,000 retail agent
locations offering our 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 2019, is available in over 75 countries, plus additional
territories, to move money around the world. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200423005498/en/
Media Contacts: Western Union Global Communications
Pia De Lima; Pia.DeLima@westernunion.com +1 (954) 260-5732
Western Union Americas Margaret Fogarty;
maragaret.fogarty@wu.com
Western Union Middle East & Africa Mohamed El Khalouki;
Mohamed.ElKhalouki@wu.com
Western Union Asia-Pacific Karen Santos;
Karen.Santos2@westernunion.com
Western Union (NYSE:WU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Western Union (NYSE:WU)
Historical Stock Chart
From Jul 2023 to Jul 2024