Business Payments Wallet from Western Union Accelerates Cross-border Payments

by Mercator Advisory Group 0

Western Union announced today a significant improvement in the cross-border payment offerings for its business customers in the United States and Canada. WesternUnion Business Solutions has introduced its own version of a wallet, which according to Brian Harris, Chief Product Officer, “makes it easier to operate on a global scale, saving companies time and money, so they can focus on their core business and execute on their decisions immediately.”

Customers are able to prefund the wallet with balances in U.S. or Canadian dollars. The funds are then immediately available when the company wants to initiate a payment, utilizing email and the Western Union network and affiliates to send payments worldwide in any of more than 135 currencies. The wallet is an extension of the existing Online FX platform, such that Western Union will continue to benefit from selling the foreign exchange.

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