Western Union Launches Business Payments Wallet
07 May 2012 - 10:00PM
Business Wire
The Western Union Company (NYSE:WU), a leader in global payment
services, today announced the launch of its new business payments
wallet for clients of Western Union Business Solutions in the
United States and Canada. The technology allows clients using
Business Solutions’ Online FX platform to add and hold funds on
balance for future use and enables them to make convenient email
payments to international recipients.
“Small businesses will appreciate how quickly and easily they’ll
now be able to send and receive cross border payments,” said Brian
Harris, Chief Product Officer, Western Union Business Solutions.
“Our wallet makes it easier to operate on a global scale, saving
companies time and money, so they can focus on their core business
and execute on their decisions immediately.”
The wallet addresses critical pain points experienced by small
and medium enterprises, speeding up transaction processing via
pre-funded USD and CAD holding balances. Funds that have been
loaded onto the wallet and cleared are available when the client
needs to initiate a payment. With the email delivery option, the
sender needs only to provide the recipient’s email address. The
recipient is directed to a secure website to claim the payment
online.
Western Union Business Solutions enables companies of all
sizes to send and receive cross-border payments and manage foreign
exchange, creating unique solutions tailored to suit their FX
needs. As a leading non-bank provider of business payments, Western
Union Business Solutions offers its services through locally
licensed affiliates and partners in 25 countries. Supported by a
network of trading offices, strategic banking relationships and a
global clearing network, businesses can send cross-border payments
in more than 135 currencies.
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. As of
March 31, 2012, the Western Union, Vigo and Orlandi Valuta branded
services were offered through a combined network of approximately
495,000 agent locations in 200 countries and territories. In 2011,
The Western Union Company completed 226 million
consumer-to-consumer transactions worldwide, moving $81 billion of
principal between consumers, and completed 425 million business
payments. For more information, visit www.westernunion.com.
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