Western Union Business Solutions, the payments arm of the Western Union Company, a leader in cross-border, cross-currency money movement and payments, announced the expansion of its global capabilities, bringing faster and more transparent payment services to business customers. Western Union Business Solutions has integrated SWIFT Global Payment Initiative and increased its international currency options within its WU Mass Payments API to 130.
Western Union continues to bolster its payment capabilities as the company executes its strategy to advance its leadership in cross-border and cross-currency financial flows.
Read More: XP Inc. Acquires Riza M&A
By integrating SWIFT Global Payment Initiative (GPI), Western Union Business Solutions advances its best-in-class global financial network for a growing portfolio of business customers seeking greater operational efficiency for payments worldwide. As a SWIFT GPI member, Western Union Business Solutions will provide clients with increased visibility and certainty that their payments will rapidly reach their intended destination.
Increased currency support in its WU Mass Payments API enables Financial Institutions to expand their reach, improve efficiencies and transact in more currencies by integrating a flexible global payments network into their own product or service. WU Mass Pay enables a superior experience for recipients with built-in, real-time FX quotes. Partners can send up to 10,000 payments in over 130 currencies in a single batch with near real-time payment tracking, report functionality, and automated notification changes to payment status with the option to route payments over the Western Union Business Solutions global network.
Read More: GlobalFintechSeries Interview with Rohit Arora, CEO at Biz2Credit
“We are continuously advancing our capabilities to give our clients the tools to access the growing global marketplace. Adding Swift GPI and expanding our currency portfolio within our Mass Payments API advances not only our competitive advantage but that of our customers,” said Scott Johnson, Head of Product at Western Union Business Solutions. “Customers expect, and now have, payments that are faster, traceable, transparent, consistent, and more reliable. We give them that, along with our global compliance program,” he said.
For organizations seeking a partner to optimize cross-border payments, Western Union Business Solutions equips you with the solutions you need to send, receive, and manage international payments. Our extensive global network, spanning 200 countries and territories combined with our local markets knowledge, enables you to manage international payments simply, effectively, and efficiently.
Read More: Hacking Insurance to be 10x Faster
