Western Union Accelerates Digital Money Movement for Postal Networks Worldwide
Western Union (NYSE: WU) has enhanced its digital platform by partnering with Australia Post to enable international digital money transfers. As the fifth national postal organization to implement these services, Australia Post joins other institutions like La Banque Postal and the UK's Post Office. This partnership allows customers to send money globally 24/7, leveraging Western Union's extensive network, which includes billions of bank accounts and over half a million agent locations. Western Union aims to improve connectivity and customer service through these collaborations, adhering to its commitment to digital innovation.
- New partnership with Australia Post for international digital money transfers.
- Expansion increases Western Union's reach into Australia, enhancing service offerings.
- Partnership builds on a 17-year relationship, indicating strong brand trust.
- Access to billions of bank accounts and millions of mobile wallets globally.
- None.
Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, continues to make significant headway in expanding its digital platform to provide enhanced services for global customers by enabling national postal networks around the world to offer international digital money transfer services.
Australia Post has become the fifth national postal organization globally to leverage Western Union digital money transfer capabilities, innovating to meet existing and new customers’ needs for global money transfers. Four other national postal institutions already offer Western Union’s digital money transfer services, including France’s La Banque Postal, Italy’s Postepay, Russia’s Russian Post Bank, and the United Kingdom’s Post Office Ltd.
Australia Post has expanded its international services with the launch of Western Union digital money transfers, enabling customers to send money worldwide 24/7, using Western Union’s leading cross-border money transfer capabilities via auspost.com.au. The digital expansion builds on a 17-year relationship with Western Union, which began with the introduction of retail services in 2004.
Western Union’s partnerships with national postal organizations globally enable millions of customers to conveniently send money worldwide. Customers may choose for their funds to be paid out into billions of bank accounts and millions of mobile wallets in approximately 120 countries, or more than half a million Agent locations in more than 200 countries and territories. This integration of Western Union’s capabilities including global settlement capabilities, financial network, compliance, and technology systems has provided access to millions of postal network customers to send cross-border money transfers quickly, conveniently and reliably.
Over decades, Western Union has built strategic collaborations with postal entities in 79 countries. These relationships have enabled us to work together and develop innovative ways to digitize the experience for joint customers.
“We are focused on continually enhancing our platform and expanding our reach to better connect people, business and communities around the world. Our growing partnerships with national postal networks are part of this commitment, and we are pleased to link our leading digital cross-border capabilities to bring real worldwide connectivity with a few taps to the global customers of our postal network partners,” said Jean Claude Farah, President, Western Union Global Network. “With expansion of our relationship with Australia Post we are continuing our recent momentum powering retail players to succeed in the digital space and unlock new growth opportunities so that together, we can serve as an economic force for our global customers.”
Farah added: “Western Union has a distinct vantage point on the diverse money movement needs of our global customers across different continents and economic, financial and technological ecosystems. Our global platform transcends these complexities, making it possible to send funds easily and quickly across borders and currencies with a few clicks.”
Western Union’s strategy to open its platform and worldwide financial network to serve third-party companies has established it as a unique partner for global money movement, enabling organizations in telecom, tech, financial services, and other sectors to enrich services for their customers.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20210610005042/en/
FAQ
What is the new partnership announced by Western Union and Australia Post?
How does Western Union's digital service expansion impact customers?
Which national postal organizations have partnered with Western Union?
When did Western Union start its relationship with Australia Post?
What benefits does Western Union offer through its global network?
