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
MTU Maintenance Lease Services Invests in TRecs to Digitalise Engine Transition Management13.5.2026 10:05:00 CEST | Press release
MTU’s engine leasing arm becomes a shareholder in TRecs, reinforcing its commitment to digitalising engine lifecycle management MTU Maintenance Lease Services B.V. (“MLS”), the engine leasing and asset management arm of MTU Maintenance, today announced a strategic minority investment in TRecs (trecs.aero). TRecs is a platform digitalising Open Item List (OIL) management across the engine lifecycle, from initial technical review through transitions, shop visits, and beyond. Terms of the transaction are kept confidential. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513682497/en/ Through its deployment of TRecs, MLS moves further into its leading role in moving the engine leasing industry toward a cloud-based, collaborative standard designed specifically for leasing and asset management customers. MLS will use the platform across the engine lifecycle, from the initial technical review of acquired or leased-in engines thro
NIPPON KINZOKU Strengthens Promotion of "L-Core" as an Eco-Product: Functional Stainless Steel Achieving High Conductivity via Surface Modification13.5.2026 10:01:00 CEST | Press release
- Eliminates Plating, Lowers Costs, and Resists Corrosion even in high-temperature, high-humidity environments - NIPPON KINZOKU CO., LTD. (TOKYO: 5491) (Headquarters: Minato-ku, Tokyo) is proud to announce the strengthened promotion of "L-Core," a functional stainless steel that utilizes proprietary surface modification technology to achieve extremely low contact resistance while maintaining the inherent corrosion resistance of stainless steel. We have repositioned L-Core as a strategic "Eco-Product" to support sustainable manufacturing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513728897/en/ While conventional stainless steel excels in corrosion resistance due to its "passive film," this same film typically acts as an electrical insulator. Consequently, components requiring conductivity have traditionally relied on high-cost nickel (Ni) plating or conductive tapes. L-Core solves this challenge by making the passive
Hermes Reply Presents Brick Cognitive, the Agentic Operating System for Manufacturing13.5.2026 10:00:00 CEST | Press release
Hermes Reply, the Reply Group company specialized in digital transformation for manufacturing, presents Brick Cognitive, the new agentic operating system designed to bring AI to the centre of industrial operations. A natural extension of Brick Reply, Reply’s next-generation MES/MOM platform, Brick Cognitive introduces a model in which factory systems no longer simply execute and monitor operations, but isable to interpret what is happening, correlate events and guide action across production, quality, maintenance and planning. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513981153/en/ Brick Reply, Reply’s next-generation MES/MOM platform, Brick Cognitive introduces a model in which factory systems no longer simply execute and monitor operations, but is able to interpret what is happening, correlate events and guide action across production, quality, maintenance and planning. In production environments, data and processe
MC Advances Supply Chain Transformation with Blue Yonder Cognitive Solutions13.5.2026 10:00:00 CEST | Press release
Leadingretailer strengthens agility with AI and machine learning to improve allocation and replenishment decisions across its network and brands MC, the retail division of Sonae and a leading player in Portugal’s grocery market and health, wellness, and beauty retail across the Iberian Peninsula, has selected Blue Yonder Cognitive Solutions for Allocation and Replenishment to advance its supply chain transformation. With more than 400 stores across multiple formats, MC operates major supermarkets and hypermarkets such as Continente, along with convenience stores, health and wellness shops, and online grocery services. Blue Yonder’s advanced artificial intelligence (AI) and machine learning (ML) enabled solutions will help the company improve visibility into demand forecasting. The new solutions will be implemented by Blue Yonder Services. “The grocery retail sector is adapting to a period of significant change, underlining the need for more agile operations across the supply chain. We
Oral‑B Announces The Big Rethink 2026, Launching One of Europe’s Largest Disability‑Focused Oral Health Studies13.5.2026 09:06:00 CEST | Press release
Oral‑B and iADH build on four years of action to advance inclusive oral care and whole‑body health41% of Europeans identify as living with a disability, representing a four‑point increase wave‑on‑wave Oral‑B today announces The Big Rethink 2026, the next evolution of its flagship oral health inclusion programme, developed in partnership with the International Association for Disability and Oral Health (iADH). The new phase introduces Project Steady, one of Europe’s largest real‑world studies exploring oral care experiences among people with disabilities, their carers and dental professionals. The programme aims to reduce everyday barriers to oral care through inclusive design, evidence-based research and professional education. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260511175864/en/ Oral B Announces The Big Rethink 2026, Launching One of Europe’s Largest Disability Focused Oral Health Studies Oral health for Whole-Bo
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