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Western Union Announces Digital Enhancements Benefitting Both C2C and B2B Customers

Reflecting its strategic focus in digital expansion, The Western Union Company (NYSE: WU) today outlined specific enhancements to its services for its consumer-to-consumer (C2C) and business-to-business (B2B) customers.

A new omni-channel feature on the Western Union mobile app gives consumers the flexibility to send money to more than 200 countries and territories using multiple payment options. They can use the in-app payment choice of bank account, card or now use cash via an agent location. This new feature is available in the US and the UK and is planned to be rolled out globally over the coming year.

The company also announced an expansion of its payment platform for businesses that enables large enterprises to send high volumes of cross-currency and cross-border payments simultaneously.

“Consumers and businesses demand freedom of choice in today’s world,” said Western Union President and CEO Hikmet Ersek. “Western Union makes the lives of our customers easier and less complex – whether someone wants to send money from their phone that can be picked up in person, or helping businesses of all sizes grow.”

Western Union C2C Omni-Channel Mobile App

Western Union has expanded its digital footprint significantly, and consumers can now send money globally via WU.com in 37 countries orWestern Union mobile app in 16 countries. The omni-channel enhancement provides additional convenience of starting the transaction on their smart phone, even if paying with cash, which significantly speeds up the in-store transaction. The company expects to roll out the service in the coming months in France, Germany, and Canada.

“Omni-channel choice is a thoughtful innovation which brings the advantages of digital transactions into a physical world,” said Western Union President of the Americas and European Union Odilon Almeida. “Our large, fast-growing digital network, combined with our regulatory understanding and compliance infrastructure, gives us opportunities to drive real value in all money transfer scenarios.”

Western Union Business Mass Payments

Corporate and Financial Institutions can now conveniently and efficiently send high volumes of payments across a multitude of countries and currencies. The enhanced Mass Pay offering builds on the core payments platform that underpins the company’s proprietary award-winning WU® EDGE™ platform, leveraging Western Union’s unique global banking network to drive speed and efficiency in making global payments.

“Our enhanced Mass Payments product offers unprecedented ease whereby Corporate and Financial Institutional customers can implement an international Mass Payments solution for their business. With an enriched suite of integration options, including a direct application programming interface (API) as well as SWIFT FIN connections, our customers can be up and running with our new service in days. This release reinforces our unique capabilities that have led us to become one of the largest non-bank providers of international payments in the world,” said Western Union Business Solutions President Kerry Agiasotis.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2016, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2015, The Western Union Company completed 262 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 508 million business payments. For more information, visit www.westernunion.com.

Source: BusinessWire