CO-WESTERN-UNION
26.10.2020 13:02:12 CET | Business Wire | Press release
Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, announced it has further expanded its global digital network for funds payout and increased the availability of real-time payouts, advancing the company’s goal of building the world’s largest funds collection and distribution network to meet the growing customer demand for transparency, immediacy, and reliability.
For decades, Western Union has been moving money with payout in minutes in over 130 currencies through its vast global retail network of over 550,000 agent locations across more than 200 countries and territories.
The company now also expanded its account-based payout options, including bank account, wallet, or card payout in over 120 countries (up from 100) with real-time payment speeds in 80 of these countries (up from 50 in April 2020).1 The capability is available for its customers and clients across its branded, co-branded partner, and white-label partner money transfer and payments businesses. The company targets to enable as many as 100 countries for real-time capability by the end of 2020.
Western Union’s expansion of its global network for real-time money movement and payments puts the company at the forefront, as real-time payments ecosystems gather momentum worldwide. More and more countries are opting to develop and operate real-time schemes to optimize their payments systems and unlock immediate economic benefits.
“We are making it easier to make payments cross-border in real-time for an expanding array of consumer and business needs across the world by building an expansive funds collection and distribution network. We are making the experience leaner, faster and less complex for consumers, businesses, and our partners,” said Western Union President of Global Network Jean Claude Farah. “By leveraging a combination of cross-border connections and our unmatched platform strengths, including global processing, compliance, and settlement capabilities, we can meet the increasing demand from global consumers and businesses for fast, transparent, and reliable cross-border real-time payments.
“Our cross-border real-time money transfer and payment capabilities are offering more connections across the international payments landscape, especially in developing and emerging markets. This expansion is vital to our business growth and critical for unlocking opportunities for global economic progress, especially during the current landscape,” said Farah.
Western Union’s global account payout network now includes access to more than four billion bank accounts, wallets, and cards across every continent in the world. Connections are through local banks, national payment settlement switches, third-party payment processors, mobile wallets, and card connections.
1 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
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. 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, 2020, our network included over 550,000 retail agent locations offering our 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 2019, is available in over 75 countries, plus additional territories, to move money around the world. 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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20201026005434/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Venture Global and China Gas Announce New Long-Term LNG Agreement14.9.2026 10:30:00 CEST | Press release
Today, Venture Global, Inc. (“Venture Global”; NYSE: VG) and China Gas Holdings Limited (“China Gas”; stock code: 0384.HK), a leading natural gas operator in China, announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 0.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030.This SPA brings Venture Global’s current long-term offtake with China Gas, to 2.5 MTPA under 20-year SPAs supplied across Venture Global’s portfolio. "Venture Global is pleased to expand our LNG partnership with China Gas, a leading natural gas operator in China, supplying the country's growing energy needs with reliable, low-cost American LNG from across our Louisiana projects," said Venture Global CEO Mike Sabel. “We are pleased to deepen our long-standing partnership with Venture Global through this new agreement,” said Mr. Liu Ming Hui, Chairman and President of China Gas. “It further strengthens our portfolio
Thales Builds Cryptographic Security for the Age of AI and Post-Quantum Computing14.9.2026 09:00:00 CEST | Press release
Thales launches Luna 8, a new hardware security module (HSM) to provide future-ready, quantum resistant security to protect critical data and applications Powered by a Thales designed cryptographic processor, it delivers unparalleled performance, enhanced protection and the flexibility to adapt to new security needs Drawing on decades of cryptographic expertise, Luna 8 combines trusted security with support for emerging technologies, including post quantum cryptography According to the 2026 Thales Data Threat Report, the threat of Harvest Now, Decrypt Later (HNDL) attacks was the top-cited risk, with 59% of organizations reporting that they are prototyping and evaluating post-quantum cryptography (PQC) algorithms to prepare for the quantum era. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260804748922/en/ ©Thales To help organizations turn this readiness into deployment,Thales, a global leader in advanced technologies, tod
U.S. FDA Accepts New Drug Application Under Priority Review for Takeda’s Zasocitinib in Moderate-to-Severe Plaque Psoriasis, with Potential to Redefine Oral Treatment Expectations14.9.2026 09:00:00 CEST | Press release
Acceptance is based on pivotal Phase 3 data demonstrating rapid, durable and consistent skin clearance, including in high-impact sites, in a convenient once-daily pill Results from nearly 3,000 patients support potential for next-generation TYK2 inhibitor to redefine oral treatment expectations in psoriasis The Prescription Drug User Fee Act (PDUFA) target action date is in the first quarter of calendar year 2027 Takeda (TSE:4502/NYSE:TAK) announced that the U.S. Food and Drug Administration (FDA) accepted its New Drug Application (NDA) under Priority Review for zasocitinib (TAK-279) for the treatment of adults with moderate-to-severe plaque psoriasis. Zasocitinib is an investigational, next-generation, highly selective and potent oral tyrosine kinase 2 (TYK2) inhibitor, which demonstrated rapid, durable and consistent skin clearance in Phase 3 plaque psoriasis studies.1-3 Addressing unmet needs in psoriasis treatment “Despite progress in psoriasis care, there remains a need for highly
SWISSto12 and Mitsubishi Electric Corporation Announce Strategic Partnership14.9.2026 09:00:00 CEST | Press release
The Memorandum of Understanding (MoU) and additional contract signal a new phase of collaboration on market development in the Asia Pacific (APAC) region SWISSto12 today announced a memorandum of understanding (MoU) with Mitsubishi Electric Corporation (MELCO) (TOKYO: 6503) to pursue joint opportunities on advanced payloads, radio frequency (RF) products, and market development in Japan and the APAC region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914982179/en/ Masahiko Arai, Executive Officer and Group President, Defense & Space Systems, Mitsubishi Electric, and Dr. Emile de Rijk, Chief Executive Officer, SWISSto12 Joint opportunities will leverage MELCO’s extensive satellite system expertise and integration capabilities together with SWISSto12’s proprietary 3D-printing designs and processes that form the foundation of its next-generation payloads—smaller, lighter, highly performant, yet built in materially shorter
Focused Support Launches Cavok STRIKE to Expand Link-16 Participation Across the Joint Force14.9.2026 07:00:00 CEST | Press release
Extending Link-16 interoperability without platform-level hardware integration Focused Support LLC today announced the launch of Cavok STRIKE, an integrated software capability that expands the Link-16 tactical battlespace picture by enabling additional operational platforms to participate in the Link-16 network. Modern battlefields have increasing numbers of unmanned systems, sensors, and supporting platforms operating throughout the joint battlespace. The rapid proliferation of Group 1, 2, and 3 UAS, including both expendable and recoverable systems, has created a growing need to integrate these assets into the broader tactical network. Many of these platforms provide operationally relevant information but have historically remained outside the Link-16 network due to limitations in size, weight, power, platform integration complexity, or acquisition cost. Cavok STRIKE addresses this gap by enabling platforms to participate in the Link-16 network as non-command-and-control participant
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom