Western Union (NYSE: WU), a leader in global payment services, today announced the company has renewed its contract with Woodforest National Bank, which has more than 740 branches with the majority of their branches located inside Walmart stores.
Woodforest National Bank, headquartered in The Woodlands, Texas, operates in 17 states throughout the U.S.
With this renewal, consumers will continue to have access to Western Union Money Transfer® and bill payment services via the bank’s branches and online banking website. Additionally, an expansion of online services—to include Western Union® mobile money transfer available on Woodforest’s mobile banking platform—is expected to launch in 2016.
Carter Hunt, Senior Vice President and General Manager, Western Union U.S., said, “Western Union and Woodforest have collaborated for more than a decade to bring convenience to consumers, and we remain committed to meeting the needs of those who need to move money with speed, ease and reliability.”
“The expanded financial services we have been able to offer through Western Union have been a long-standing value added convenience to our customers. We look forward to our continued relationship with Western Union,” said Julie V. Mayrant, Woodforest’s President of Retail Banking.
Western Union offers banks a cost-effective and reliable way to meet consumer demand to send money from bank accounts to be paid out almost anywhere in the world.
The company’s cross-border platform enables an industry-leading pay-in, pay-out capability that leverages technology, foreign exchange conversion, and data management, as well as regulatory, compliance and anti-money laundering infrastructure, to expedite efficient and timely money movement across 500,000 agent locations in 200 countries and territories, at over 100,000 ATMs and kiosks and via connections to millions of bank accounts and mobile wallets.
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