Western Union Expands Real-Time Payouts To Reach 80 Countries

In its ongoing efforts to beef up its international real-time payments network, Western Union has again expanded its payout options. The move was due in part to increased demand from businesses and individuals for such transfers and “for transparency, immediacy and reliability,” the company said in a release.

The company said it has “further expanded its global digital network for funds payout and increased the availability of real-time payouts.” Western Union has “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),” according to the release.

These payment options are available under certain conditions, including currency availability, regulatory issues, consumer protection issues and identification requirements.

“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,” said Western Union’s president of global network, Jean Claude Farah. “We can meet the increasing demand from global consumers and businesses for fast, transparent and reliable cross-border real-time payments.”

The company touted its track record: “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.”

Farah said the latest expansion “is vital to our business growth and critical for unlocking opportunities for global economic progress, especially during the current landscape. 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.”

In the spring, Hikmet Ersek, president and CEO of Western Union, said the company had been stepping up the expansion of its digital money transfer capabilities, which is especially important “given the critical nature of money movement” during the coronavirus pandemic.