La Banque Postale, the banking subsidiary of France’s postal services’ operator, La Poste Group and one of France’s major banking networks with 10.3 million active customers today announced - as payment agent of Western Union - the expansion of global digital payment services, powered by Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement and payments.
The integration of Western Union’s global cross-border, cross-currency digital money movement platform within La Banque Postale’s mobile app and website will enable more than seven million online registered La Banque Postale customers to access Western Union’s international payment services and experience.
La Banque Postale’s customers have the choice to fund their payments within the app or website using bank card and pay-out at Western Union’s Global Retail and Wallet Network.
Western Union’s cross-border, cross-currency money movement platform – including global settlement capabilities, network, compliance and technology systems — enables international real-time cross-border transfers for financial institutions like La Banque Postale. Western Union’s initial association with La Poste Group commenced two decades ago with international retail money transfer services. La Poste Group has operated as a Western Union Agent for more than 20 years and now also leverages Western Union’s digital platform.
“I am incredibly proud to extend our relationship with La Poste Group and La Banque Postale as agent of Western Union. It has been thrilling to see how our two companies have innovated and collaborated to provide consumers with omnichannel service, offering the flexibility of a fully digitalized web and app experience,” said Hikmet Ersek, President and CEO, Western Union.
“Western Union’s advanced digital services mark an expansion of our open platform strategy as we help other leading global organizations solve the complexities of cross-border, cross-currency transactions,” said Mr. Ersek, speaking from Paris Fintech Forum 2020.
La Banque Postale prides itself on offering its diverse customer base a full range of tailored banking and insurance products and services that are easy to access online or offline.
Postal networks are a significant part of Western Union’s vast global retail footprint. In addition to its own iconic retail agent locations around the globe, Western Union services are offered at government-operated post offices and private commercial retail mail service firm locations across 105 countries.