LONDON--(BUSINESS WIRE)--
Western Union Business Solutions, a business segment of The Western
Union Company (NYSE:WU) and a leader in global payment services, today
announces enhanced capabilities to its WU® EDGE digital trading
platform, including expansion of the platform’s fee-free* network, and
availability into seven new markets: Hong Kong, Austria, France,
Germany, Italy, Poland and the Czech Republic.
Upon launch, the new fee-free* network payment feature will expand to 51
currencies across 13 countries, with the speed of cross-border payments
also increasing to allow transferring funds from buyers to sellers on
the WU EDGE platform within minutes.
Kerry Agiasotis, President of Western Union Business Solutions, said,
“Buying and selling overseas has never been easier, it’s now possible to
make an international business payment in minutes.”
The Enterprise Digital Global Exchange ‘EDGE’ is the latest
technological innovation launched by Western Union Business Solutions
and is being expanded from its initial launch into six key markets (UK,
US, Canada, Australia New Zealand and Singapore) to 13 (Hong Kong,
Austria, France, Germany, Italy, Poland and the Czech Republic).
Kerry Agiasotis added, “Since the launch of the WU EDGE platform
businesses across the world have used the platform to support their
aspirations to grow, invest and deliver the jobs of the future. We are
very proud of today’s announcement, we view ourselves as business
partners to our SME customers.”
“This continuous evolution around the WU EDGE platform is just the
beginning. We want to connect buyers and sellers all over the world. And
connect them on a single B2B platform that powers real-time connections
and payments across the globe,” concluded Agiasotis.
The WU EDGE platform helps businesses with international needs by:
-
Connecting buyers and sellers – The WU EDGE platform unifies AP
(accounts payable) and AR (accounts receivable) workflows with
Electronic Invoice Presentment and Payment (EIPP), aligning buyers and
sellers through a single global platform. SMEs can invite existing and
new partners to trade globally and interact with them in real-time to
potentially enhance trade and growth.
-
Empowering insights and analysis – The WU EDGE platform
provides actionable insights to help businesses navigate foreign
exchange risks and opportunities resulting from international
payments. Powerful business tools available in the foreign cash
management and trade intelligence modules provide customers with new
insights for optimizing their cash flows and profits.
-
Increasing confidence to transact across borders – The WU EDGE
platform gives SMEs the confidence to conduct business efficiently at
scale around the world. This new capability leverages Western Union’s
unique global footprint and Business Solutions’ in-country bank
account network to transfer funds cost effectively between buyers and
sellers in minutes.
* Western Union Business Solutions makes money from currency exchange.
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, 2016, 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, and included the capability to send money
to over one billion accounts. In 2015, The Western Union Company
completed 262 million consumer-to-consumer transactions worldwide,
moving $82 billion of principal between consumers, and 508 million
business payments. For more information, visit www.westernunion.com.
WU-G
View source version on businesswire.com: http://www.businesswire.com/news/home/20160718005079/en/
Source: Western Union