Western Union customers in major send countries – including the U.S.,
U.K., France, Germany and Australia – can now send money directly to
select Indian banks in minutes
ENGLEWOOD, Colo. & MUMBAI, India--(BUSINESS WIRE)--
The Western Union Company (NYSE: WU), a leader in global payment
services, has advanced its international direct-to-bank transfers to
select banks in India, paving the way for customers to send money in
minutes* to major Indian banks.
Western Union has successfully linked its retail agent network and
digital transactional sites in select countries to move money in minutes
to account holders of select banks via India’s revolutionary Immediate
Payment Service (IMPS). The service is available using cash and debit
cards at participating Agent locations, and debit and credit cards at www.westernunion.com.com
at this time.
Western Union President and CEO, Hikmet Ersek, said, “We are
harnessing our system to link retail or digital transfers from major
send countries to direct money into individual bank accounts of major
receive countries.
“To date, we have connections to transfer money into bank accounts in
more than 50 countries. India leads the way and we can now do it in
minutes.* This is a major win for our customers. We are
giving them the choice of placing cash on the counter or using cashless
send options and yet sending directly into a bank account from major
centres around the world.
“We move money that helps finance the futures of millions—largely global
workers and their families. Linking our global retail Agent network with
digital capability means convenience, reliability and speed for our
customers,” concluded Ersek.
Direct-to-bank international money transfers are preferred by customers
looking for the convenience of funds received directly into a bank
account and accessible on demand, 24/7, according to a Western Union
user survey.
The in minutes delivery speed is an enhancement to the direct-to-bank
money transfer services launched by Western Union last year, which
delivers funds within one banking day to 140 banks in India.
This service, provided in collaboration with IndusInd Bank, operates
using the National Payments Corporation of India’s (NPCI) revolutionary
IMPS platform, which has recently been approved by the Reserve Bank of
India to facilitate cross-border money transfer within minutes to select
banks.
Western Union® services are currently available at more than
112,000# Agent locations in India. Western Union has
transactional websites in 24 countries and a mobile app in the US and
Australia to send money globally to 200 countries and territories. For
more information on Western Union’s global capacities, including online,
mobile money transfer, account-based options and retail Agent locations,
please visit www.WU.com.
* Service and funds availability depends on certain factors including
the Service selected, the select ion of delayed delivery options,
special terms applicable to each Service, amount sent, destination
country, currency availability, regulatory issues, consumer protection
issues, identification requirements, delivery restrictions, agent
location hours, and differences in time zones (collectively,
“Restrictions”).
# Network data as of 30 September 2014
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 September 30, 2014, the Western Union, Vigo
and Orlandi Valuta branded services were offered through a combined
network of over 500,000 agent locations in 200 countries and territories
and over 100,000 ATMs and kiosks. In 2013, The Western Union Company
completed 242 million consumer-to-consumer transactions worldwide,
moving $82 billion of principal between consumers, and 459 million
business payments. For more information, visit www.westernunion.com.
WU-F, WU-G
Source: Western Union