Western Union taps businesses with new cross-border wallet service
The Western Union Company (NYSE:WU), a leader in global payment services, today announced the launch of its new business payments wallet for clients of Western Union Business Solutions in the United States and Canada.
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The technology allows clients using Business Solutions' Online FX platform to add and hold funds on balance for future use and enables them to make convenient email payments to international recipients.
"Small businesses will appreciate how quickly and easily they'll now be able to send and receive cross border payments," said Brian Harris, Chief Product Officer, Western Union Business Solutions. "Our wallet makes it easier to operate on a global scale, saving companies time and money, so they can focus on their core business and execute on their decisions immediately."
The wallet addresses critical pain points experienced by small and medium enterprises, speeding up transaction processing via pre-funded USD and CAD holding balances. Funds that have been loaded onto the wallet and cleared are available when the client needs to initiate a payment. With the email delivery option, the sender needs only to provide the recipient's email address. The recipient is directed to a secure website to claim the payment online.