22 October 2017
visit www.atos.net

Western Union gets green light for Brazilian commercial bank

28 September 2010  |  2200 views  |  0 Source: Western Union

The Western Union Company (NYSE:WU), a leader in global payment services, received license approvals from the Brazilian Central Bank and President Luiz Inácio Lula da Silva to operate a commercial bank and foreign exchange brokerage firm in Brazil.

Effective immediately, the license allows Western Union to offer the Western Union® Money TransferSM services directly to consumers in Brazil and to introduce new financial services, including domestic money transfers, consumer bill payments and prepaid cards.

"Our goal is to offer throughout Brazil, a diversified range of fast, reliable and convenient financial services to complement our money transfer business, including the development of electronic channels and payment services to serve consumers better," said Stewart A. Stockdale, President, The Americas and EVP Global Cards and Global Key Accounts, Western Union.

"Western Union will continue to work closely with its Bank and Exchange Broker Agents in Brazil," concluded Stockdale.

Western Union has provided its international money-transfer service in Brazil since 1998, through its Agent network that currently includes nearly 6,000 bank and foreign exchange brokerage firm locations.

Odilon Almeida, Senior Vice President and General Manager South America, Western Union added, "As a world leader in global payments, our goal is to hold this position among consumers in Brazil. Our innovative history of more 150 years will help address and serve the needs of consumers in Brazil."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.comRegister now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
14205 views comments | 17 tweets | 28 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
12898 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9737 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9553 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8744 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job