Western Union, a company that provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, has announced the expansion of its Global Network for real-time money-movement and payments. The move will benefit the consumers and clients across its branded money transfer and payments business as well as its expanding white-label business.
“The expansion has been fast-tracked since the beginning of this year with the goal of assessing as many as 100 countries for real-time capabilities by the end of 2020. Western Union’s global network now includes more than four billion bank account and wallets,” the company said.
Last month, Western Union announced the expansion of its digital money transfer services, the fastest-growing part of its business in 2019, to more than 75 countries. The Company’s digital services capture all the top 20 of the world’s primary remittance-sending countries ranked by the World Bank. Similarly, the Company’s global bank account and wallet payout network, along with in-minutes payout capability to select bank accounts and wallets, covers most of the world’s major remittance-receiving countries. Given the critical nature of money movement during the COVID-19 crisis, this end-to-end coverage assures that these reliable, convenient digital services are available to millions of the world’s most active money movers.
“Western Union is continuing to execute on its strategy by investing in and growing our global network to empower businesses and consumers to move money or make payments how they choose, to where they choose, as quickly as possible,” said Western Union President and CEO Hikmet Ersek. “The COVID-19 crisis has strengthened our commitment to be a reliable partner for people and enterprises to move funds globally in real-time.”
Ersek added, “This is a prime example of how the expanding global reach, interconnectedness and speed of Western Union’s global network generates customer benefits that are difficult to match. Our unique platform cuts through international complexities so customers can access their funds in real-time in more and more places. As we expand from our roots in consumer remittances, we’re positioning ourselves as the platform of choice for next-generation payments businesses and financial institutions and their diverse cross-border payments needs.”
Western Union’s consumer-to-consumer money in-minutes cross-border payments capability is now active when sending to select banks or digital wallet providers in 50 countries: Austria, Bangladesh, Bulgaria, Burundi, Cambodia, Cameroon, China, Costa Rica, Cyprus, Czech Republic, Democratic Republic of Congo (DRC), Denmark, Estonia, Ethiopia, Fiji, Finland, France, Ghana, Guatemala, India, Indonesia, Italy, Ivory Coast, Kenya, Latvia, Lithuania, Luxembourg, Malawi, Mexico, Mongolia, Mozambique, Nepal, Netherlands, Nigeria, Pakistan, Philippines, Portugal, Rwanda, Senegal, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Turkey, Uganda, Ukraine, United Arab Emirates, Zambia and Zimbabwe.
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