SAN FRANCISCO--(BUSINESS WIRE)--
The Western
Union Company (NYSE: WU), a leader in global payment services, today
announced its account payout network, a global capability that enables
cross-border money transfers to be directed to bank accounts – has
reached a new milestone, now connecting consumers to over one billion
bank accounts.
“Western Union is recognized as a leader in global payment services with
a network of agent locations, ATMs and online services. The additional
ability to pay out in over one billion bank accounts gives consumers
unparalleled choice when sending money through Western Union,” said
Western Union President and CEO Hikmet Ersek.
“The account payout network capability represents a natural evolution in
Western Union's cross-border platform and omni-channel strategy to reach
new digital-savvy, banked and mobile enabled consumers. Western Union is
actively pursuing digital innovation enterprise wide, increasing
consumers’ choice of money transfer channels and facilitating financial
inclusion in emerging countries around the world,” added Ersek.
A consumer can send money, funded by cash, debit, or credit card, in a
fast, efficient and cost effective manner, directly to a receiver's
account through www.westernunion.com,
either online or through mobile devices, where available. Consumers can
also use cash to send funds to an account from participating WU®
agent locations.
The Western Union cross-border platform is an industry-leading FinTech
solution. It leverages a brand new web platform, highly rated mobile
apps, combined with digital pay-in and pay-out solutions and global
foreign exchange conversion to provide consumers access to mobile
wallets and one billion bank accounts.
In addition, WU’s regulatory, compliance and anti-money laundering
infrastructure uses cutting edge big data Hadoop technologies to
facilitate efficient and timely money movement across more than 500,000
agent locations in 200 countries and territories, over 100,000 ATMs and
kiosks, and online in 33 countries.
*Service and funds availability depends on certain factors, including
the Service selected, the selection 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”).
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, 2015,
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 hundreds of millions of accounts. In
2014, The Western Union Company completed 255 million
consumer-to-consumer transactions worldwide, moving $85 billion of
principal between consumers, and 484 million business payments. For more
information, visit www.WesternUnion.com.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20160120005585/en/
Source: Western Union