Business Wire

Western Union Expands Real-Time Payout

Share

Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, announced it has further expanded its global digital network for funds payout and increased the availability of real-time payouts, advancing the company’s goal of building the world’s largest funds collection and distribution network to meet the growing customer demand for transparency, immediacy, and reliability.

For decades, Western Union has been moving money with payout in minutes in over 130 currencies through its vast global retail network of over 550,000 agent locations across more than 200 countries and territories.

The company now also expanded its account-based payout options, including bank account, wallet, or card payout in over 120 countries (up from 100) with real-time payment speeds in 80 of these countries (up from 50 in April 2020).1 The capability is available for its customers and clients across its branded, co-branded partner, and white-label partner money transfer and payments businesses. The company targets to enable as many as 100 countries for real-time capability by the end of 2020.

Western Union’s expansion of its global network for real-time money movement and payments puts the company at the forefront, as real-time payments ecosystems gather momentum worldwide. More and more countries are opting to develop and operate real-time schemes to optimize their payments systems and unlock immediate economic benefits.

“We are making it easier to make payments cross-border in real-time for an expanding array of consumer and business needs across the world by building an expansive funds collection and distribution network. We are making the experience leaner, faster and less complex for consumers, businesses, and our partners,” said Western Union President of Global Network Jean Claude Farah. “By leveraging a combination of cross-border connections and our unmatched platform strengths, including global processing, compliance, and settlement capabilities, we can meet the increasing demand from global consumers and businesses for fast, transparent, and reliable cross-border real-time payments.

“Our cross-border real-time money transfer and payment capabilities are offering more connections across the international payments landscape, especially in developing and emerging markets. This expansion is vital to our business growth and critical for unlocking opportunities for global economic progress, especially during the current landscape,” said Farah.

Western Union’s global account payout network now includes access to more than four billion bank accounts, wallets, and cards across every continent in the world. Connections are through local banks, national payment settlement switches, third-party payment processors, mobile wallets, and card connections.

1 Service and funds availability depends on certain factors including the Service selected, the selection of delayed delivery options, special terms applicable to each Service, amount sent, destination country, currency availability, regulatory issues, consumer protection issues, identification requirements, delivery restrictions, agent location hours, and differences in time zones

WU-G

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of June 30, 2020, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2019, is available in over 75 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends, and businesses to enable financial inclusion and support economic growth.

For more information, visit www.westernunion.com.

Contact information

Western Union Global Communications; Pia De Lima; Pia.DeLima@westernunion.com

Western Union Americas: Margaret Fogarty; margaret.fogarty@wu.com

Western Union Middle East & Africa: Mohamed El Khalouki; Mohamed.ElKhalouki@wu.com

Western Union Asia-Pacific: Karen Santos; Karen.Santos2@westernunion.com

Western Union Foundation: Emily Larson; emily.larson@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

Takeda Completes Sale of Select OTC and Non-Core Assets to Celltrion in Asia Pacific1.12.2020 00:00:00 CETPress release

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the completion of its previously-announced sale of a portfolio of select products to Celltrion Inc. (“Celltrion”) for a total value of $278 million USD inclusive of milestone payments. The portfolio includes 18 pharmaceutical products and over-the-counter (OTC) products sold in Asia Pacific, which is part of Takeda’s Growth & Emerging Markets Business Unit. This divestment agreement was first announced in June 2020. The divested portfolio includes pharmaceutical products and OTC products in the Cardiovascular, Diabetes and General Medicine therapeutic areas, sold in Australia, Hong Kong, Macau, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand. The products, while addressing key patient needs in these countries and territories, are outside of the business areas Takeda has chosen as core to its global long-term growth. As part of the deal, Takeda will continue to manufacture the portfol

Celltrion Completes Acquisition of Primary Care (PC) Product Assets for Asia Pacific Markets from Takeda Pharmaceutical Company Limited1.12.2020 00:00:00 CETPress release

Celltrion (KRX:068270) has completed the acquisition of select primary care assets from Takeda Pharmaceutical Company Limited (“Takeda”) in Asia Pacific, igniting efforts to strengthen its R&D capability in the global small molecule pharmaceuticals business. In June, the firms announced an agreement under which Celltrion would acquire 18 "Primary Care" product assets in the Asia Pacific area for a total of USD 278 million inclusive of milestone payments from Takeda. Celltrion proceeded with the acquisition process through its newly established subsidiary in Singapore, "Celltrion Asia Pacific Pte, Ltd."1 ("Celltrion APAC"). Upon completion of the acquisition, Celltrion APAC will assume the ownership of the rights to patents, trademarks, and sales of 18 products sold in 9 markets including South Korea, Thailand, Taiwan, Hong Kong, Macau, the Philippines, Singapore, Malaysia, and Australia. The 18 products include prescription medicines such as Nesina (diabetes), Actos (diabetes), and Eda

Ipsen Receives FDA Fast Track Designation for Investigational Irinotecan Liposome Injection (ONIVYDE ® ) as a Second-Line Monotherapy Treatment for Small Cell Lung Cancer (SCLC)30.11.2020 22:58:00 CETPress release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced the United States Food and Drug Administration (FDA) has granted the company Fast Track designation for irinotecan liposome injection (ONIVYDE®) in study patients with small cell lung cancer (SCLC) who progressed following a first-line platinum-based regimen, reflecting the unmet medical need. ONIVYDE® is currently approved in the United States and in Europe in combination with fluorouracil (5-FU) and leucovorin (LV) for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy. ONIVYDE® is not indicated as a single agent for the treatment of patients with metastatic adenocarcinoma of the pancreas. An ongoing Phase III randomized study (RESILIENT; NCT03088813) trial is being conducted to assess the efficacy and safety of investigational irinotecan liposome injection (ONIVYDE®) as a monotherapy for SCLC study patients who have progressed on or a

Amblin Partners Announces New Multi-Year Film Distribution Partnership With Universal Filmed Entertainment Group30.11.2020 22:00:00 CETPress release

Amblin Partners today announced a new multi-year film distribution partnership with Universal Filmed Entertainment Group, as well as a series of new agreements that chart a clear course for the next phase of growth for one of the world’s leading independent film and television studios. The new deals were announced this morning by Steven Spielberg, Amblin’s Founder and Chairman. Remarked Spielberg: “My decades-long relationship with Universal truly transcends any single business deal, and to once again renew our corporate vows reaffirms that Universal is Amblin’s home. In addition to Universal, we are blessed to continue forward with a global family of partners, including Alibaba, eOne and Reliance, each of which has supported us for many years and enabled our storytelling to touch the lives of millions of moviegoers around the world. I would also like to extend my deepest gratitude to my dear friends Jeff Skoll and David Linde for an incredible run as formal partners; and my congratula

Little Cinema Taps Verimatrix To Secure Hollywood’s Virtual Premiere Events30.11.2020 17:45:00 CETPress release

Regulatory News: Verimatrix, (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced that New York-based Little Cinema deployed Verimatrix Watermarking and Multi-DRM technologies for its virtual premieres and previews. A groundbreaking digital studio, Little Cinema has partnered with Netflix, ABC, CBS, HBO Max, and Warner Media to produce state-of-the-art virtual premiere events for an industry that used to rely solely on in-person debuts. To fulfill the enhanced protection requirements for this high-value early-release content, Little Cinema looked to Verimatrix and its Secure Cloud. These innovative and highly-interactive virtual streaming events have made waves in Hollywood, earning the studio recognition in BBC News, Vogue, Variety, Vanity Fair, The Hollywood Reporter, and more. “Verimatrix supplies us with the needed anti-piracy protections and overall peace of mind that Hollywood studios demand when switching to virtual events

Emory University to Host a Live Webcast With His Holiness the Dalai Lama30.11.2020 16:39:00 CETPress release

The Center for Contemplative Science and Compassion-Based Ethics at Emory University will host a live webinar with His Holiness the Dalai Lama on Tuesday, December 8, 2020. A discussion titled “The Necessity of Compassion for the Survival of Humanity” will feature the Dalai Lama in conversation with Melani A. Walton, co-founder of the Rob and Melani Walton Foundation, and Dr. Sanjay Gupta, chief medical correspondent for CNN. (For speaker photos click here.) The webcast begins at 10:30pm ET on Dec. 8, 2020 (Dec. 9 @ 9:00am India Standard Time) and will be simulcast in 14 languages. It is FREE of charge and open to anyone who’d like to participate. Advance registration is encouraged at https://compassionshift.emory.edu. “With so many urgent concerns impacting our world, the time is right to start a global conversation about the importance of compassion,” said Lobsang Tenzin Negi, executive director of Emory University’s Center for Contemplative Science and Compassion-Based Ethics. “For