Innovative Digital Platform Will Enable Western Union to Facilitate
Money Transfers for Third Party Networks
The Western Union Company (NYSE: WU), a leader in global payment
solutions, today launched WU® ConnectSM, an
innovative technology platform that integrates with leading consumer
messaging and social media platforms to give users a unique way to
quickly and conveniently transfer money worldwide.
The WU Connect platform embeds Western Union’s robust global money
transfer capability into third-party digital platforms to provide users
with new ways to quickly and conveniently send money to friends and
family. Consumers will be able to fund the money transfer utilizing a
debit card, credit card or bank account and easily direct the funds to a
Western Union retail agent location around the world, and to a mobile
wallet or bank account where available.
In many ways, the WU Connect platform represents a natural evolution in
Western Union's strategy to reach new digital-savvy and mobile-enabled
individuals. Western Union’s cross-border platform enables an
industry-leading pay-in, pay-out capability that leverages technology,
foreign exchange conversion, data management, as well as regulatory,
compliance and anti-money laundering (AML) infrastructure, to expedite
efficient and timely money movement almost anywhere in the world.
"At Western Union, we are actively listening to the voice of consumers
and using that feedback as the basis for innovation in all of
cross-border money transfer and payment capabilities,” said Western
Union President and CEO Hikmet Ersek. “We are continuing to
build upon our core strengths, expanding our digital business, investing
in technology and compliance capabilities to connect the digital and
physical worlds."
David Thompson, EVP, Global Operations and Technology and CTO,
Western Union, expressed excitement about the potential impact of this
new offering saying, "This puts Western Union in a position to extend
its digital platform to networks whose users are looking for more
convenient ways to send and receive money globally on a platform of
their choice."
The WU Connect platform will be made available to strategic global
messaging, social, and other digital networks. Western Union looks
forward to working with companies in this space.
WU Connect allows for efficient and timely money movement for multiple
use cases. The WU Connect platform offers a suite of application
programming interfaces (APIs) built on a highly scalable infrastructure,
enabling fast deployment of domestic and cross-border remittance
capabilities. It seamlessly integrates into third-party user interfaces
or platforms.
For additional information on WU Connect or partnership opportunities,
please email WUConnect@wu.com.
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, 2015, 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 millions of accounts. In 2014, The Western Union Company completed
255 million consumer-to-consumer transactions worldwide, moving $85
billion of principal between consumers, and 484 million business
payments. For more information, visit www.WesternUnion.com.
WU-F, WU-G
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