The Western Union Company (NYSE:WU), a leader in global payments, today announced a suite of services specifically for non-profit organizations.
The new options, available worldwide, will simplify how these organizations collect and move money, cutting their costs and enabling them to focus fewer resources on administration and more on their key missions.
The Western Union suite of solutions for non-profit organizations, announced in celebration of International Corporate Philanthropy Day, includes a dedicated team and software to help NGOs collect and move money more efficiently. With payment in 120 currencies available at 450,000 Agent locations in over 200 countries and territories, Western Union can help ensure that vital money reaches those who need it most, nearly anywhere in the world.
The Western Union offering also will help nonprofits better reach the estimated 40 million would-be donors in the U.S. alone who deal in the world of cash, rather than credit. Donors can make convenient cash contributions at more than 150,000 participating Western Union Agent locations, including many banks and supermarkets.
"Whether it's getting emergency funds across town or making regular payments halfway around the world, Western Union's nonprofit offering dramatically simplifies the process of moving money across the global financial system," said Kurt Bulawa, VP, Retail Payments. "We provide convenience, speed, reliability and a paper trail that helps with auditing and boosts accountability. Now, with this new addition to our suite of offerings, we also are helping nonprofits do more with less."
By eliminating financial intermediaries and reducing the number of currency conversions through this point-to-point offering, complexity will be reduced and money will move faster.
The new offering also will simplify and enhance international funds transfer by:
- Employing a real-time, web-based tracking tool to monitor, track and verify transactions
- Offering the ability to pay out funds in cash, direct-to-account, prepaid cards or mobile-phone based e-wallets
- Enababling NGOs to pay out funds in more than 120 local currencies
- Providing fast, reliable and convenient transfer including sender password authentication to send funds, daily dollar limits, transaction dollar limits and standardized pick-up procedures