CO-WESTERN-UNION
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
Vedanta Resources Launches CopperTech Metals to Bolster U.S. Copper Security and Advance Technology and Infrastructure Transformation6.11.2025 17:45:00 CET | Press release
CopperTech Metals Combines World-Class Konkola Mines' Copper and Cobalt Producing Heritage with Cutting-Edge Mining Technology and Artificial Intelligence to Advance U.S. Critical Mineral Independence and Serve America's Growing Infrastructure Needs$1.5 Billion Investment Program to Leverage Advanced Mining and Cutting-Edge AI-Driven Resource Identification and Extraction Technology to Propel Konkola's Operations into One of the Largest in the World Vedanta Resources Limited ("Vedanta") today announced the launch of CopperTech Metals Inc. ("CopperTech" or the "Company"), a U.S.-domiciled company with a mission to 'Power the Copper Century' and to bolster America's copper security needs while capitalizing on surging copper demand driven by artificial intelligence, data center expansion, grid modernization, defense technologies and industrial onshoring requirements. CopperTech will1 own and operate the Konkola Copper Mines in Zambia, one of the highest-grade copper producing assets in th
NJ Bio Bridges the Translation Research Gap with the Asset Purchase and Integration of L2P®Services6.11.2025 17:11:00 CET | Press release
NJ Bio, Inc., a premier contract research and clinical manufacturing service provider in Princeton, New Jersey has announced the asset purchase and full integration of the research services of L2P Research Labs® (“Lab to Pharmacy”), further expanding its service portfolio, and bridging the translational research gap. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251106703527/en/ NJ Bio, Inc. now offers translational research services after completing asset purchase and full integration of the services of L2P® Research Labs, enhancing the discovery-to-development pipeline Currently, the attrition rate of biological molecules moving past phase 1 clinical trials is very high and the way to overcome this challenge is through translational research. NJ Bio specializes in preclinical and early-phase clinical research and development, with a primary focus on ADCs, bioconjugation, custom synthesis, oligonucleotides, and mRNAs. Howe
DevvStream Reports Fiscal Year 2025 Results and Advances Digital-Asset and Tokenization Strategy6.11.2025 17:01:00 CET | Press release
Company strengthens balance sheet, launches disciplined digital-asset treasury, and sets stage for acquisition-led growth in sustainability markets DevvStream Corp. (Nasdaq: DEVS) (“DevvStream” or the “Company”), a leading carbon management and environmental-asset monetization firm, today announced financial results for its fiscal year ended July 31, 2025, and provided an update on strategic initiatives designed to enhance liquidity, expand technology capabilities, and position the Company for scalable, acquisition-driven growth. Fiscal 2025 Highlights Completed Nasdaq listing and de-SPAC transaction, establishing DevvStream as one of the few publicly traded pure plays in carbon and renewable-energy asset monetization. Closed initial $10 million tranche under the Helena $300 million convertible-note facility, providing liquidity to launch the Company’s digital-asset treasury. Reported initial revenue as the Company begins monetizing its environmental-asset pipeline. Successfully comple
BST Global Launches 2026 AI + Data Impact Survey for the AEC Industry6.11.2025 16:41:00 CET | Press release
BST Global, the leading provider of AI-powered project intelligence™ solutions for the AEC industry, has launched its second annual global AI + Data Survey. Seeking insights from technology and data leaders of architecture, engineering and environmental consultancies around the world, the survey will be available until 11:59 p.m. ET, December 31, 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251105615222/en/ BST Global, the leading provider of AI-powered project intelligence™ solutions for the AEC industry, has launched its second annual global AI + Data Survey. Seeking insights from technology and data leaders of architecture, engineering and environmental consultancies around the world, the survey will be available until 11:59 p.m. ET, December 31, 2025. Conducted in partnership with BST Global’s AI + Data Consortium and the American Council of Engineering Companies' (ACEC) Technology Committee, the survey focuses s
Scientist.com Wins Supplier Management Excellence Award at B2B Ecommerce Awards6.11.2025 15:43:00 CET | Press release
AI-enabled R&D orchestration platform honored for innovation and leadership in supplier integration and governance Scientist.com, the leading AI-enabled R&D orchestration platform for the life sciences, has been named the winner of the Supplier Management Excellence award at the prestigious B2B Ecommerce Awards. The honor recognizes organizations that set new standards in supplier network innovation, integration, and performance to deliver superior customer value. “Winning this award is a tremendous honor and a testament to our team’s relentless focus on simplifying and accelerating R&D,” said Andrew Nashed, VP, Supplier Relations at Scientist.com. “Our platform automates and optimizes the complex process of supplier management, enabling scientists to focus on innovation while we handle compliance, integration, and operational efficiency.” Scientist.com was recognized for its industry-leading approach to building and managing the world’s largest network of scientific service providers.
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