Western Union Expands Real-Time Payout
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201026005434/en/
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
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
Hisense Joins HEVC Advance Patent Pool22.12.2025 03:06:00 CET | Press Release
Access Advance LLC, the global leader in video codec patent pool licensing, today announced that Hisense Group Holdings Co., Ltd. has joined the HEVC Advance Patent Pool as a Licensee. Hisense joins the recent additions to the Access Advance patent pools, including Xiaomi, MSI, Transsion, and expanded relationships with Huawei, HP and Sharp. Hisense, headquartered in Qingdao, China, is one of the world's largest television manufacturers, with a global presence spanning Asia, Europe, the Americas, and beyond. The company's products reach consumers in more than 160 countries and regions worldwide. "We are pleased to welcome Hisense to the HEVC Advance Patent Pool," said Peter Moller, CEO of Access Advance. "This agreement is the result of extensive engagement between our teams over a considerable period of time. Hisense's decision to join the pool reflects a recognition that transparent, efficient licensing solutions benefit both innovators and implementers across the video technology ec
Textron Aviation Defense Secures First Contract to Deliver Beechcraft T-6 Texan II Integrated Training System to Japan22.12.2025 02:00:00 CET | Press Release
Textron Aviation Defense LLC, a Textron Inc. (NYSE:TXT) company, today announced that the company has finalized its first contract to deliver the Beechcraft T-6JP Texan II integrated training system to Japan’s Air Self-Defense Force (JASDF), in coordination with Kanematsu Corporation. The initial contract includes two Beechcraft T-6JP Texan II aircraft and instructor pilot and aircraft maintainer training materials. Deliveries of the first two aircraft are scheduled for 2029, with additional contracts anticipated. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251221925354/en/ The Beechcraft T-6 Texan II is designed and manufactured by Textron Aviation Defense LLC, a wholly owned subsidiary of Textron Aviation Inc. “This contract marks a pivotal step in strengthening Japan’s next-generation pilot training capabilities,” said Travis Tyler, president and CEO, Textron Aviation Defense. “We’re honored to support the Japan Air Se
IonQ och QuantumBasel förlänger sitt långsiktiga samarbete till nästa generations kvantsystem20.12.2025 21:32:00 CET | Pressmeddelande
IonQ (NYSE: IONQ), världens ledande kvantdatorföretag, tillkännagav i dag ett utökat samarbetsavtal med QuantumBasel, kvantinitiativet vid uptownBasel, Schweiz internationella innovationscampus. Genom det utökade avtalet beviljas QuantumBasel äganderätten till det befintliga IonQ Forte Enterprise-systemet och blir ägare av ett nästa generationens Tempo-system. Det nya avtalet ökar det totala värdet av samarbetet mellan QuantumBasel och IonQ till över 60 miljoner USD samtidigt som IonQ:s roll i Schweiz därigenom förlängs i ytterligare fyra år, t.o.m. 2029. QuantumBasel är IonQ:s officiella innovationscenter i Europa och fungerar som ett nav för europeiska industrier, universitet och forskningsinstitut som vill utforska praktiska kvantdatortillämpningar och få tillgång till IonQ:s senaste storföretagssystem. ”Vårt förlängda samarbete med QuantumBasel utgör en hörnsten i IonQ:s globala strategi”, säger Niccolo de Masi, styrelseordförande och CEO på IonQ. ”QuantumBasel fortsätter att vara
EIG Acquires a 49.87% Stake in Transportadora de Gas del Perú (TgP)19.12.2025 18:42:00 CET | Press Release
EIG, through its managed investment vehicles, acquired a 49.87% equity stake in Transportadora de Gas del Perú S.A. (“TgP”) from Canada Pension Plan Investment Board today. TgP operates Peru’s principal natural gas and natural gas liquids pipelines under a long-term concession, supplying approximately 40% of the country’s power generation. “We are delighted to complete this transaction and embark on the next chapter of our partnership with TgP,” said Matt Hartman, EIG’s Global Head of Infrastructure. “Our priority is to support TgP’s operational excellence and long-term stability, delivering value for customers and stakeholders throughout Peru.” About EIG EIG is a leading institutional investor in the global energy and infrastructure sectors with $24.3 billion assets under management as of September 30, 2025. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 43-year history, EIG has committed over $51.7 billion to the energ
Klarna Partners With Coinbase to Add Stablecoin to Funding Mix19.12.2025 18:00:00 CET | Press Release
Klarna, the global digital bank and flexible payments provider, has partnered with Coinbase to add stablecoin funding to its broad range of traditional sources of funding, which include consumer deposits, long-term loans and short-dated commercial paper. The digital bank plans to raise short-term funding from institutional investors denominated in USDC utilizing Coinbase’s digitally native infrastructure. Adding a USDC-denominated funding source enables Klarna to access USD-like funding directly, tapping into a new pool of institutional investors. “This is an exciting first step into a new way to raise funding,” said Niclas Neglén, Chief Financial Officer, Klarna, “Stablecoin connects us to an entirely new class of institutional investors, and gives us the potential to diversify our funding sources in ways that simply weren't possible a few years ago. This is just the beginning of how digital assets can work alongside our traditional funding sources." Klarna chose Coinbase for this ini
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom