Simplified International Payments Enable Small and Medium Enterprises to Compete Globally
ENGLEWOOD, Colo., October 13, 2011 -- The Western Union Company (NYSE:WU), a leader in global payment services, today announced that it has expanded its Online FX and Online FX for Mobile services to business clients wishing to make bank-to-bank payments from France, Germany, Ireland and Italy.
“We’re excited to be extending our payments platform to a new client base, enabling small and medium enterprises in additional countries in Europe to pay their global suppliers online and from their mobile phones with speed, accuracy and reliability,” said Raj Agrawal, President, Western Union Business Solutions. Online FX service is also available in the United Kingdom, and further expansion into additional European countries is scheduled for early 2012.
The International Monetary Fund forecasts that the import volume of goods and services in France, Germany, Italy and Ireland will grow at an average rate of 5.3% in 2011. The global cross-border payments market for small and medium enterprises is estimated to be $24 billion in potential revenues.
Online FX enables business clients to make and manage international payments 24 hours a day, 7 days a week from their computer or mobile device. Businesses can make payments in more than 140 currencies, check real-time exchange rates and fees, and receive live customer support. The online platform allows businesses to lock in exchange rates, and the recipient receives the precise amount expected.
For more information, visit:
Western Union Business Solutions helps businesses of all sizes manage their international transactions, reduce risk, and act on market opportunities through various services including corporate FX solutions that include foreign currency payments, currency risk management consultation and industry solutions. Western Union recently announced plans to expand its suite of business payment services in additional countries, including Lebanon, Peru, Philippines and United Arab Emirates.
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. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of approximately 470,000 agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit http://www.westernunion.com.
1International Monetary Fund, World Economic Outlook Database, September 2011 Edition
SOURCE: Western Union
Media - U. S.
Media - Europe