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April 24, 2020

Western Union expands real-time payments network to 50 countries

Western Union has expanded its global network for real-time money-movement and payments into select bank accounts and wallets to 50 countries.

At the beginning of this year, the company accelerated the expansion as part of its strategy to introduce real-time in 100 countries by the year-end.

Western Union noted that currently it global network includes more than four billion bank account and wallets.

Western Union president and CEO Hikmet Ersek said: “Western Union is continuing to execute on its strategy by investing in and growing our global network to empower businesses and consumers to move money or make payments how they choose, to where they choose, as quickly as possible.

“The Covid-19 crisis has strengthened our commitment to be a reliable partner for people and enterprises to move funds globally in real-time.”

Ersek said, “This is a prime example of how the expanding global reach, interconnectedness and speed of Western Union’s global network generates customer benefits that are difficult to match. Our unique platform cuts through international complexities so customers can access their funds in real-time in more and more places. As we expand from our roots in consumer remittances, we’re positioning ourselves as the platform of choice for next-generation payments businesses and financial institutions and their diverse cross-border payments needs.”

Western Union hopes that the expansion of digital pay-in and pay-out capabilities will enable its customers to easily transfer funds even during the Covid-19 pandemic.

The company last month expanded its digital money transfer services to more than 75 countries. This service was the company’s fastest-growing segment of its business in 2019.

Western Union has a global retail network of more than 550,000 agent locations across more than 200 countries and territories.

The company revealed that its consumer-to-consumer money in-minutes cross-border payments capability is now active in Austria, Bangladesh, Bulgaria, Burundi, Cambodia, Cameroon, China, Costa Rica, Cyprus, Czech Republic, Democratic Republic of Congo (DRC), Denmark, Estonia, Ethiopia, Fiji, Finland, France, Ghana, Guatemala, India, Indonesia, Italy, Ivory Coast.

It is also available in Kenya, Latvia, Lithuania, Luxembourg, Malawi, Mexico, Mongolia, Mozambique, Nepal, Netherlands, Nigeria, Pakistan, Philippines, Portugal, Rwanda, Senegal, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Turkey, Uganda, Ukraine, UAE, Zambia and Zimbabwe.

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