Western Union has expanded the availability of real-time digital payouts into 100 countries, covering billions of bank accounts.
The firm unveiled its plan to expand real-time payout into bank accounts, wallets, and cards during its investor day last year.
At that time, the firm also said that it would hit the 100-country mark this year.
The expansion of this offering is part of Western Union’s digital growth strategy.
Last month, the firm said that its account-based payout options, including bank account, wallet, or card payout, has now been made available in more than 120 countries, compared to 100 previously.
Western Union, through its cross-border, cross-currency platform, is set to offer multiple real-time pay-in and payout options worldwide, to new and existing consumers and businesses.
The platform integrates local regulation, compliance, channels, currency, and language.
Western Union president of global network Jean Claude said: “Our strategy is purpose-built for where the world is headed, and with rapid execution with global scale, we are powering the world’s cross-border payment momentum with a globally diverse network to serve payment solutions, anytime and anywhere.”
Western Union president of product and platform Shelly Swanback added: “Our comprehensive, global cross-border and cross-currency platform continues to advance towards setting the standard for international payments and money movement to serve an ever-broader array of customers.
“No matter if you are a consumer, business, technology player, government entity or an NGO, or where you commence your payment journey, our flexible model can meet your needs with ease, flexibility, and confidence.”
Western Union recently inked a definitive agreement to acquire a 15% stake in stc pay, the digital payments unit of Saudi Telecom Company.
Under the agreement, the money transfer company invested up to $200m in stc pay. Western Union will provide money transfer services to stc pay’s users.
stc pay customers can use its app to transfer money to over 200 countries and territories in more than 130 currencies.