Western Union Expands Collaboration with UK Post Office to Offer Retail Cross-Border Money Transfers
29 April 2022 - 9:00PM
Business Wire
Expansion follows successful UK Post Office
digital cross-border money transfers roll-out in 2019
Western Union services to become available in
4,000 UK Post Office locations, doubling Western Union’s UK retail
network
Western Union (NYSE: WU) announced today that it is expanding
its collaboration with the UK Post Office to provide retail
cross-border money transfers. This alliance is part of the
Company’s continued enhancement of its omni-channel offering,
serving its customers across the full range of physical and digital
touchpoints and channels.
Providing UK Post Office customers a truly omni-channel
experience
UK Post Office customers will now be able to benefit from
Western Union’s omni-channel experience, choosing to send money to
their families and loved ones overseas via Western Union’s UK Post
Office digital services or in-person at 4,000 UK Post Office
locations across the United Kingdom. Customers can now start
transactions digitally or in a retail location and have their funds
paid out in cash, directly onto a card, into a mobile wallet, or
directly into a bank account, via Western Union’s global
network.
“I am delighted that Western Union, one of the world’s biggest
financial networks, and UK Post Office, the UK’s biggest retail
network, are expanding our collaboration, aiming to serve our
customers better in a transformed post-pandemic environment,” said
Devin McGranahan, Western Union President and CEO. “At the same
time, today’s announcement shows how we at Western Union continue
to see our leadership in retail as critical to our success, and as
a critical element of our omni-channel offering. As we continue to
expand our global network, we will seek not only to improve access,
but also, importantly, working with our partners, to truly
transform the retail experience we offer our customers, in the UK
and across the world.”
Serving communities across the UK
Many of the 4,000 UK Post Office locations where Western Union’s
retail services will be initially rolled-out are located in
communities across the country that have seen increasing volumes of
closures of local bank and credit union branches. These communities
will now have more options to connect, seamlessly, to the global
economy, improving financial inclusion, increasing footfall for
thousands of the UK Post Office’s independent postmasters and
further supporting the success of attached small retail
businesses.
“I am delighted to be expanding our partnership with Western
Union, allowing customers to choose whether they want to use the
money transfer service digitally or prefer to do it face-to-face,”
said UK Post Office CEO, Nick Read. “Postmasters are knowledgeable,
reliable and can provide that assurance that a transaction has gone
through with a printed receipt which many of our customers still
value. Furthermore, this expanded partnership helps drive footfall
into 4,000 of our branches providing postmasters with increased
remuneration opportunities.”
The planned activation of Western Union’s UK Post office retail
cross-border money transfers is scheduled for Autumn 2022.
*Depending on location & availability of service
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. Western
Union’s platform provides seamless cross-border flows and its
leading global financial network bridges more than 200 countries
and territories and over 130 currencies. We connect consumers,
businesses, financial institutions, and governments through one of
the world’s widest reaching networks, accessing billions of bank
accounts, millions of digital wallets and cards, and a substantial
global network of retail locations. Western Union connects the
world to bring boundless possibilities within reach. For more
information, visit www.westernunion.com.
About the Post Office
- With over 11,500 branches, Post Office has the biggest retail
network in the UK, with more branches than all the banks and
building societies combined.
- Post Office is helping anyone who wants cash to get it
whichever way is most convenient. Partnership with over 30 banks,
building societies and credit unions means that 99% of UK bank
customers can access their accounts at their Post Office.
- Cash withdrawals, deposits and balance enquiries can be made
securely and conveniently over the counter at any Post Office; and
the biggest investment by any organisation or company in the last
decade is being made to safeguard 1,400 free-to-use ATMs across the
UK.
- Post Office is simplifying its proposition for Postmasters with
a focus on its cash and banking; mails and parcels; foreign
exchange; and bill payments services.
- Research has found that visits to the Post Office help drive
another 400 million visitors to other shops, restaurants and local
businesses equating to an estimated £1.1 billion in additional
revenue for High Street businesses.
- 99.7% of the population live within three miles of a Post
Office; and 4,000 branches are open seven days a week.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220429005021/en/
Media contacts: International Claire Treacy
claire.treacy@westernunion.com
Europe/UK Nicholas Mandalas
nicholas.mandalas@westernunion.com
Western Union Investor Relations Tom Hadley
thomas.hadley@wu.com
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