B2B Payments

Europe Gains Western Union Money Transfer Options

Western Union announced on Tuesday (Aug. 26) that it had expanded its online and mobile money transfer options into Austria,Belgium,Germany, the Netherlands and the United Kingdom.

According to a company release, the move enables account-based payment for online money transfers to more than 200 countries and territories via integration with online banking portals. Users can direct their money transfers into a receiver’s bank account in certain countries or opt for cash payout at more than 500,000 Western Union retail Agent locations worldwide.

“Western Union continues to develop online capabilities that cater to the high-principal, account-based customer,” Khalid Fellahi, senior vice president and general manager of Western Union Digital said. “Providing bank account-based funding options expands our relevance to a wider customer set and makes WU.com a compelling choice for banked customers worldwide.”

Earlier this month, PYMNTS.com reported on Western Union’s Q2 earnings. According to the results, second-quarter earnings dipped 2 percent. The decline was due in part to higher costs, especially as Western Union works to expand its consumer money transfer business. Walmart’s money transfer service and elevated compliance costs brought on by increased regulatory interest were also a factor in Western Union’s sluggish second quarter.

 

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