Business Wire

Western Union Expands Real-time Payments in Europe

Share

Western Union, a global leader in cross-border, cross-currency money movement and payments, announced today that the Western Union International Bank (WUIB) has joined the Single Euro Payments Area Instant Credit Transfer scheme (SCT Inst) as a Direct Participant, further enhancing the company’s real-time payment capabilities in Europe.

Joining SCT Inst allows Western Union to offer its consumers—across the 24 countries and more than 2,300 financial institutions that take part in the SCT Inst scheme—additional real-time money transfer and payment options, available 24/7, providing more choice and convenience and further improving speed and reliability. Progressively, SCT Inst participation will enable consumers using Western Union’s global financial network, spanning more than 200 countries and territories, to send and receive real-time payments to/ from the scheme’s participating countries and financial institutions.

Peter Bucher, Managing Director of the Western Union International Bank, said: “This is an achievement that showcases how WUIB is a truly agile, customer-focused organization, at the vanguard of digital innovation. We continue to deliver cutting-edge products and services to expand and enhance the relationship with our customers across Europe.”

SEPA Instant Credit Transfer enables pan-European credit transfers, with funds made available on the account in less than ten seconds. The scheme forms part of the Single Euro Payments Area, launched in 2008 by the European banking and payments industry with the support of national governments, the European Commission, the Eurosystem and other public authorities. SEPA has harmonized the way non-cash euro payments are conducted and covers several countries beyond the euro area or the European Union.

Shelly Swanback, President, Product and Platform for Western Union, said: “Joining STC Inst as a Direct Participant is a significant milestone, reflecting Western Union’s role as an important financial services provider in Europe. Already, over 60% of our global account payout transaction volume is delivered in real-time. But we don’t stand still: We continue to invest in expanding our real-time payment capabilities, as we work to give consumers additional options and convenience across platforms, devices, borders and currencies.”

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect businesses, financial institutions, governments, and consumers through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and over half a million retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.

WU-G

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Claire Treacy
Claire.treacy@westernunion.com

Nicholas Mandalas
Nicholas.mandalas@wu.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

DentalMonitoring, the Leading AI-Based Dental Software Company, Announces a $150 Million Growth Financing, Reaching a Valuation Over $1 Billion21.10.2021 11:22:00 CEST | Press release

DentalMonitoring has become the first dental software company to attain a valuation over $1 billion announcing a $150 million growth financing. The round is led by a new investment of $90 million from Mérieux Equity Partners and $60 million from Vitruvian Partners, an existing financial investor, demonstrating confidence in the company’s ambitious plans. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211021005463/en/ DentalMonitoring Since CEO and co-founder Philippe Salah launched the company in 2014, DentalMonitoring has become the first player to harness AI for remote monitoring in the dental and orthodontic fields. Driven by the treating doctor, DentalMonitoring’s AI automates messages and instructions sent to patients and practice staff to synchronize the delivery of care with the need of care. DentalMonitoring is also the first and only company offering virtual practice solutions for all dental professionals to help st

RIDDLE&CODE and Blockdaemon Join Forces to Unlock Next-Gen Industrial Tokenization Services21.10.2021 10:15:00 CEST | Press release

Leading European blockchain interface company RIDDLE&CODE and the largest crypto infrastructure platform for node management and staking Blockdaemon, announced today a strategic, long-term partnership that will focus on delivering next-gen industrial tokenization services. RIDDLE&CODE will integrate Blockdaemon's premium full node services to scale and enhance the tokenization capabilities of its Token Management Platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211021005053/en/ Tokenization is potentially the largest use case of blockchain that unlocks illiquid assets, simplifies their transfer and enables companies to expand and diversify portfolios. With a value that could exceed $24 trillion by 2027, it offers a range of benefits, including the development of new business models such as fractional ownership, sale and purchase of assets without middlemen, greater operational efficiency and overcoming geographic res

New Moody's ESG Solutions Tool Helps Meet EU Taxonomy Requirements21.10.2021 10:06:00 CEST | Press release

Moody’s ESG Solutions today launched EU Taxonomy Alignment Screening, a new data solution to help market participants meet the disclosure requirements of the European Union’s (EU) Taxonomy regulation. Moody’s built its tool from the ground up, an approach that sets the solution apart in this space and ensures that the underlying data is as closely aligned to the technical criteria of the EU Taxonomy as possible. "The responsible investment landscape is continually evolving due to new standards for disclosure practices and demand for ESG-labelled products,” said Sabine Lochmann, Global Head of Moody’s ESG Measures. “EU Taxonomy Alignment Screening is the latest addition to our suite of regulatory data solutions, which help market participants navigate regulatory requirements, create innovative financial products, and support efforts to build a more sustainable economy.” The EU Taxonomy provides a first-of-its-kind classification system for identifying environmentally sustainable activit

New Report from Gemserv and tado° Shows Smart Thermostats Most Cost Effective and Scalable Way to Decarbonise Homes in the EU’s Green Deal Renovation Wave21.10.2021 10:00:00 CEST | Press release

With heating and cooling of homes accounting for 21% of the EU’s energy consumption, European housing stock urgently needs decarbonising in order to lower emissions 55% by 2030 and achieve net-zero1 according to a new report from Gemserv and tado°. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211021005179/en/ Smart thermostats deliver over ten times as much annual carbon savings per €100 of up-front cost compared to the next best measure, an important factor in consumer decision-making. (Graphic: Business Wire) To realise these goals and reduce CO2 emissions, approximately €600 billion has been reserved in the EU’s Green Deal funds2. Decarbonisation is a huge challenge for governments across Europe, and any spending must be used as effectively and efficiently to not incur higher costs to the taxpayer. A new report produced by research consultancy Gemserv looked at the four most common methods of decarbonising homes in Euro

Vodafone Connects Its Customers With Thales’ Eco-SIM Card21.10.2021 08:00:00 CEST | Press release

Thales to supply Vodafone Group with Eco-SIM; a product whose card body is made out of 100% recycled plastic from refrigerator interiors. Vodafone initially plans to deploy Eco-SIM in ten countries1 in Europe and Africa. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211020006111/en/ Credit Vodafone Over 4.5 billion SIM cards are produced every year2, representing 20,000 tons of plastic – the equivalent weight of two Eiffel towers. Developed in partnership with Veolia, the global leader in ecological transformation, the Thales Eco-SIM was launched in 2020 and is made from 100% recycled polystyrene recovered from discarded refrigerators. Offering a second life to the refrigerator interiors, Thales enabled an independent and exclusive green plastic supply flow to Vodafone. Thales’ carbon offsetting program also ensures its innovative ‘green SIM’ is certified as carbon neutral3. As a result, the new contract will support Vodafo

Gaïa Rating - New Award for ESI Group's ESG Commitment21.10.2021 08:00:00 CEST | Press release

Regulatory News: Gaïa Research, a service of EthiFinance and a major player in the field of ESG rating (environment, social and governance) of French mid-sized listed companies, has awarded ESI Group (Paris:ESI), a global player in virtual prototyping, committed to a cleaner, safer, and more productive industry, the first Gaïa 2021 prize in the category of mid-cap companies with annual revenues under €150 million. This award received during the ceremony held on October 19th, 2021 in Paris, illustrates the efforts made by the Group to continuously improve its CSR commitments (social, societal, and environmental). 2021 was shaped by several significant actions for ESI Group, both within its governance, its environmental commitments, some in collaboration with Reforest'Action, and above all, with initiatives dedicated to its employees. Particularly shaken by the Covid-19 health crisis, the work-life balance was a field of action for ESI Group, which employs 1,200 people in about 20 countr

Boyd Corporation Acquires Siltec, Continues to Expand Global Material Science Portfolio21.10.2021 08:00:00 CEST | Press release

Boyd Corporation, a world-leading innovator of technologies in engineered materials and thermal management, today announced the acquisition of Siltec, a Weiler, Germany-based specialist in silicone compounding for custom products in the highly-regulated medical industry. The acquisition deepens and diversifies Boyd’s material science portfolio and further expands its European footprint. “Siltec’s dedicated team of scientists and technologists enhance Boyd competencies in silicone material science and the medical industry. We’ll leverage this expertise to accelerate innovation across Boyd’s material portfolio and adjacent high growth markets like industrial technology, eMobility and cloud data center where customers need high temperature resistant and durable solutions,” stated Boyd CEO Doug Britt. Boyd continues to invest in value-driven innovation and technology to create marketable differentiation for its customers. The addition of silicone compounding expertise further bolsters Boyd