Leader in global payment services, The Western Union Company
has announced that its account payout network, a global capability that
enables cross-border money transfers to be directed to bank accounts,
has reached a new milestone, now connecting consumers to over one
billion bank accounts.
The account payout capability allows a consumer to send money, funded by cash, debit or credit card, in a fast, efficient and cost effective manner, directly to a receiver’s bank account through its website, either online or through mobile devices, where available.
“Western Union is recognized as a leader in global payment services with a network of agent locations, ATMs and online services. The additional ability to pay out in over one billion bank accounts gives consumers unparalleled choice when sending money through Western Union,” Western Union President and CEO, Hikmet Ersek said in a press release.
He added, “The account payout network capability represents a natural evolution in Western Union’s cross-border platform and omni-channel strategy to reach new digital-savvy, banked and mobile enabled consumers. Western Union is actively pursuing digital innovation enterprise wide, increasing consumers’ choice of money transfer channels and facilitating financial inclusion in emerging countries around the world.”
The service also allows consumers to use cash to send funds to an account from participating WU agent locations.
The account payout network is available in about 48 countries, which includes Egypt and Morocco.
The Western Union cross-border platform is an industry-leading FinTech solution. It leverages a brand new web platform, highly rated mobile apps, combined with digital pay-in and pay-out solutions and global foreign exchange conversion to provide consumers access to mobile wallets and one billion bank accounts.
In addition, WU’s regulatory, compliance and anti-money laundering infrastructure uses cutting edge big data Hadoop technologies to facilitate efficient and timely money movement across the countries where it operates, and online in 33 countries.
Western Union, founded in 1851 and headquartered in Colorado, is a truly multinational wire transfers and money orders service, having over 500,000 Western Union agent locations in more than 200 countries and territories.
The account payout capability allows a consumer to send money, funded by cash, debit or credit card, in a fast, efficient and cost effective manner, directly to a receiver’s bank account through its website, either online or through mobile devices, where available.
“Western Union is recognized as a leader in global payment services with a network of agent locations, ATMs and online services. The additional ability to pay out in over one billion bank accounts gives consumers unparalleled choice when sending money through Western Union,” Western Union President and CEO, Hikmet Ersek said in a press release.
He added, “The account payout network capability represents a natural evolution in Western Union’s cross-border platform and omni-channel strategy to reach new digital-savvy, banked and mobile enabled consumers. Western Union is actively pursuing digital innovation enterprise wide, increasing consumers’ choice of money transfer channels and facilitating financial inclusion in emerging countries around the world.”
The service also allows consumers to use cash to send funds to an account from participating WU agent locations.
The account payout network is available in about 48 countries, which includes Egypt and Morocco.
The Western Union cross-border platform is an industry-leading FinTech solution. It leverages a brand new web platform, highly rated mobile apps, combined with digital pay-in and pay-out solutions and global foreign exchange conversion to provide consumers access to mobile wallets and one billion bank accounts.
In addition, WU’s regulatory, compliance and anti-money laundering infrastructure uses cutting edge big data Hadoop technologies to facilitate efficient and timely money movement across the countries where it operates, and online in 33 countries.
Western Union, founded in 1851 and headquartered in Colorado, is a truly multinational wire transfers and money orders service, having over 500,000 Western Union agent locations in more than 200 countries and territories.
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