Western Union Business Solutions (WUBS), a unit of Western Union Company, has entered into a strategic alliance with payments provider HyperWallet to introduce a new global mass payments product.
The product aims to drive new global commerce opportunities in four key areas including Hyperwallet’s payments technology solution, Western Union’s global distribution and scale, Western Union Business Solution’s global bank network as well as integrated FX management and advanced treasury services.
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The product has been launched based on Western Union’s and Hyperwallet’s shared vision for providing a platform where payors and recipients have full visibility and certainty of their payments besides providing a best-in-class end-user experience.
Hyperwallet’s mass payments technology combined with Western Union global payments and FX services capabilities, will offer new ways of doing business by opening a payments hub for emerging participants in the global economy and enables companies to achieve greater visibility, certainty and efficiency in their financial operations.
Western Union Business Solutions president Kerry Agiasotis said: "By integrating our payments ecosystem with Hyperwallet’s platform, we have enabled a mass payment product that will help change how global payments are made today, while helping meet the rigorous compliance demands faced when making global payments."
Hyperwallet president & chief commercial officer Peter Burridge said: "Integrating the Western Union global bank and cash network with Hyperwallet’s mass payment technology is a game changer, bringing the agent network into the corporate domain to provide solutions the market is desperate for."
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