CO-WESTERN-UNION
23.11.2020 14:02:24 CET | Business Wire | Press release
Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, announced it has expanded real-time digital payout capabilities into 100 countries reaching billions of bank accounts.i For decades, Western Union already paid out in minutes into 550,000 agent locations in 200 countries and territories. The goal to expand real-time payout into bank accounts, wallets and cards was announced at the 2019 Investor Day where the company said it would reach the 100-country milestone in 2020.
Expanding real-time payout capabilityii is a key focus of the Company’s digital growth strategy which centers on growing its industry-leading digital services offered through westernunion.com and digital partnerships . Together, the two growth drivers grew digital revenue 45% year-over-year in the third quarter of 2020, representing 21% of Western Union’s consumer business and trending at an annual rate of over $900 million.
With a continued expansion of its global network, Western Union is poised to become the world leader in offering multiple real-time pay-in and payout options worldwide through its cross-border, cross-currency platform that seamlessly integrates local regulation, compliance, channels, currency, and language. The capability translates into a payment experience of convenience, choice, trust for Western Union's current and new consumers and businesses, and a growing band of partners representing the financial, telecom, and tech sectors.
"Our strategy is purpose-built for where the world is headed, and with rapid execution with global scale, we are powering the world's cross-border payment momentum with a globally diverse network to serve payment solutions, anytime and anywhere," said Jean Claude Farah, Western Union President Global Network.
Shelly Swanback, Western Union President Product and Platform, added, "Our comprehensive, global cross-border and cross-currency platform continues to advance towards setting the standard for international payments and money movement to serve an ever-broader array of customers. No matter if you are a consumer, business, technology player, government entity or an NGO, or where you commence your payment journey, our flexible model can meet your needs with ease, flexibility, and confidence."
Western Union reported Digital transaction growth of 96%, including 53% for WesternUnion.com, and significant incremental growth from digital partnerships in the third quarter of 2020. The Company led its peer group for mobile app downloads with a wide margin and reported strong customer engagement with WU.com's average monthly active customer growth of 47%.
The Company's digital partnerships, which represent an incremental growth opportunity beyond its WesternUnion.com business, are characterized by enabling third-party entities to use Western Union's global cross-border, cross-currency platform. For example, Western Union provides money transfer services that allow stc pay's users to send money from its app to 200+ countries and territories in 130+ currencies through Western Union's extensive global network of bank accounts and wallets, cards, and retail.
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 September 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 .
i Real-time payout capabilities are available to bank accounts and/or wallets or cards in 100 countries with select partners or banks.
ii 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005708/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
AI Can Design the Slides, But It Can’t Fix Stage Fright: 3 in 4 Workers Get Anxious Presenting, Canva Study Finds8.9.2026 15:00:00 CEST | Press release
When AI can build the slides, what sets the presenter apart? Canva's new global study, The Presentation Paradox, finds it comes down to one thing: how you command the room.91% use AI to build and draft presentation slides each month74% feel anxious presenting at work, with Gen Z most affected (90%)68% link strong presentation skills to a recent pay rise or promotion53% currently use AI as a presentation coach55% would let an AI avatar present for them86% say great presentations come down to human connection New research from Canva, the world’s leading visual communication platform, reveals an emerging paradox at the heart of one of work’s age-old skills: even as AI makes presentations easier to create than ever, nearly three in four professionals (74%) still feel anxious about presenting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260908549712/en/ Canva's Global 'The Presentation Paradox' Study Few things are as entrench
PAX Debuts The Oxblood Edit, a Limited Edition Collection Inspired by Fall’s Richest Color8.9.2026 15:00:00 CEST | Press release
PAX FOUR, MINI and ERA GO arrive in a deep oxblood finish, bringing timeless style, seasonal color, and elevated design to three of the brand’s signature devices Today PAX, a pioneering global cannabis brand, introduces The Oxblood Edit, an ultra-limited release bringing one of fall’s defining colors to three of the brand’s signature devices: PAX FOUR, PAX MINI and ERA GO. Deep, distinctive and designed to be coveted, Oxblood transforms the PAX lineup through a rich burgundy finish inspired by the worlds of fashion, interiors and industrial design. The limited collection is available beginning today at pax.com and select retailers, while supplies last. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260908330141/en/ The Oxblood Edit: bringing timeless style, seasonal color, and elevated design to three of the brand's signature devices. Long associated with craftsmanship and enduring style, oxblood has reemerged across fashion
STARTEEPO Issues Letter and Presentation to the Board of Xerox Calling for Action to Unlock Shareholder Value8.9.2026 15:00:00 CEST | Press release
Urges Strategic Review of Xerox Financial Services, Including Exploring Potential Sale of All or Part of the Business UnitBelieves XFS Business Could Be Worth $7.69 Per Share -- More than Double Xerox’s Current Share PriceAsserts Investors Will Be Better Able to Value XFS Through Increased Transparency STARTEEPO SICAV a.s. (“STARTEEPO”) today issued an investor presentation and the following letter to the Board of Directors (the “Board”) of Xerox Holdings Corporation (“Xerox” or the “Company”) (NASDAQ: XRX). STARTEEPO, which has increased its investment in Xerox to a beneficial ownership of 7.34%, in stocks and options, is urging the Board to take bold actions to unlock significant shareholder value, including by increasing transparency about Xerox Financial Services’ performance, evaluating strategic alternatives for the business unit, deleveraging the Company, and exercising continued capital discipline. Shareholders can view the investor presentation here. For more information visit
Leblon Delienne Joins LEXON at BOW to Expand Its Global Reach8.9.2026 14:36:00 CEST | Press release
The French sculpture atelier extends the group’s expertise from everyday design to collectible art BOW (Brands of Wonder), the international brand group behind French design brand LEXON, today announced the acquisition of Leblon Delienne, the French sculpture atelier known for transforming pop culture icons into collectible art and design objects. The move pairs the atelier’s distinctive French craftsmanship and licensed collections with BOW’s international reach and digital expertise. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260908641342/en/ Leblon Delienne Joins LEXON at BOW Juliette de Blegiers, who acquired the company in 2018, will remain a minority shareholder in Leblon Delienne and continue working alongside BOW founder Boris Brault and the atelier’s teams. For more than 40 years, Leblon Delienne has brought iconic characters to life through sculptures, figurines, furniture, and art and design objects, primarily
Visa Brings Onchain Lending into Everyday Payments8.9.2026 14:00:00 CEST | Press release
By combining VisaNet settlement data with blockchain lending, Visa is helping its partners unlock new financing opportunities for stablecoin-linked card programs. Today, Visa (NYSE: V) announced a new approach to onchain credit designed to help stablecoin-linked card programs and fintechs access working capital using onchain lending infrastructure and Visa data. Onchain lending has emerged as one of the fastest-growing segments of digital finance. According to the Visa Onchain Analytics Dashboard, since 2020, more than $694 billion in stablecoin-denominated loans have been sent through onchain lending protocols, creating a global credit market that operates 24/7. Yet much of that activity remains concentrated within crypto markets and hasn’t meaningfully supported the businesses and payment experiences people use every day. Visa is helping bridge that gap by combining VisaNet settlement data with onchain credit infrastructure. This information can help lenders better understand how a p
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