Western Union has expanded its tie-up with the UK Post Office to provide retail cross-border money transfers in the country.
The partnership comes as the Western Union seeks to improve its omni-channel offering, serving its customers across a spectrum of physical and digital touchpoints and channels.
It will allow UK Post Office customers to send money overseas through Western Union’s UK Post Office digital services or in-person at 4,000 UK Post Office locations across the UK.
Furthermore, customers will be now able to initiate their transactions online or in a retail location.
The funds will be paid out to the receiver in cash, directly onto a card, or into a mobile wallet or bank account via the company’s global network.
Western Union president and CEO Devin McGranahan said: “As we continue to expand our global network, we will seek not only to improve access, but also, importantly, working with our partners, to truly transform the retail experience we offer our customers, in the UK and across the world.”
Many of the UK Post Office locations that will offer Western Union’s retail services are said to be in communities where closures of local bank and credit union branches are on the rise.
The expanded partnership will enable these communities to connect to the global economy while increasing footfall for UK Post Office’s independent postmasters.
UK Post Office CEO Nick Read said: “Postmasters are knowledgeable, reliable and can provide that assurance that a transaction has gone through with a printed receipt which many of our customers still value. Furthermore, this expanded partnership helps drive footfall into 4,000 of our branches providing postmasters with increased remuneration opportunities.”
Western Union’s UK Post office retail cross-border money transfers are expected to launch later this year.
In March this year, Western Union selected Indonesia -based Artajasa as its new bank account and wallet payout partner.