Western Union Accelerates Global Digital Expansion
Western Union Digital, the fastest growing part of Western Union’s business, is gaining momentum as the company, today, announced the acceleration of its digital footprint. The Western Union Company (NYSE: WU), a leader in cross-border and cross-currency money movement, is rapidly deploying digital services across major regional economic hubs of Asia, Latin America and the Middle East, connecting them 24/7 to more than 200 countries and territories, including billions of consumer bank accounts.
In the next few years, Western Union’s digital expansion plans include scaling to more than 200 countries and territories with emphasis on the mobile channel from which approximately 70% of Western Union’s digital transactions globally originate.
In Asia, with Hong Kong already live, Malaysia, and Singapore will commence services over the next few weeks. In Latin America, Brazil, Jamaica and Panama are live with Mexico set to follow and in the Middle East, Bahrain, Kuwait, Qatar and Oman are live with United Arab Emirates to launch thereafter. Western Union already has a full digital offering in North America, across major parts of Europe and Australia and New Zealand.
“Our ability to scale our services globally is underpinned by deep expertise, a sophisticated cross-border, cross-currency platform – with global settlement, treasury and compliance infrastructure, a vast global network of over half a million locations, and the ability to send money to billions of accounts and mobile wallets,” said Western Union CEO and President Hikmet Ersek.
“Our platform sets the standard for international money movement as we serve an ever-broader array of customers, giving them greater ease, access and confidence in every transaction they make, while upholding what matters most to them– speed, reliability, convenience and trust. No one moves money farther with multiple channel choice,” said Ersek.
About Western Union’s Cross-Border Platform
Western Union’s cross-border, cross-currency platform – including a robust digital footprint, settlement, treasury and compliance infrastructure, and a vast global network of over half a million locations, and the ability to send money to billions of consumer accounts and mobile wallets – sets the standard for international money movement. With operations in 200 countries and territories, Western Union’s platform processes an average of 32 transactions every second and moves $300 billion a year across 130 currencies.
Connecting the digital and physical worlds of money, Western Union’s technology stack, APIs, foreign exchange and settlement engine, agent network, anti-money laundering and fraud detection capabilities make it one of the largest digital and physical money movers for consumers around the globe.
For more information, visit the Western Union newsroom at www.westernunion.com/news.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of June 30, 2018, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2017, is available in 45 countries and territories to move money around the world. In 2017, we moved over $300 billion in principal in nearly 130 currencies and processed 32 transactions every second across all our services. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
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