UK Post Office set to pair with Western Union

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Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • Post Office, which has 11,500 branches, set to join forces with Western Union
  • The new platform will be jointly branded
  • “This collaboration marks an expansion of our strategy to open our platform to new alliances and solve the complexities of cross-border, cross-currency transactions for companies”, says WU CEO

International cross-border payments service Western Union has announced another in a string of key partnerships – this time with major UK brand Post Office.

Customers of Post Office, which is a private business in the UK with a financial services arm, will now be able to access Western Union services via an online platform which has both Western Union and Post Office branding.

The online money transfer platform will be especially useful for Western Union’s business customers. They will be able to take advantage of the WU-EDGE system, which provides close to instant business transactions.

The platform allows these transactions to be conducted in over 50 currencies. Western Union works in a range of economies and nations, and in total has presences in over 200.

The Post Office, meanwhile, currently has around 11,500 sites in the UK.
The new system will also provide a range of other tools, such as cash flow systems as well as profit protection options.

According to Owen Woodley, CEO of Financial Services and Telecoms at Post Office, the new partnership is a chance to make the most of technology such as mobile wallets.

“Working together with Western Union means we can offer customers the capability to transfer money online with ease – not just to bank accounts, but also to mobile wallets and retail agent locations in more than 200 countries and territories”, he said.

“Alongside our existing branch services, this online alliance with Western Union significantly expands the convenient access to money transfer services that the Post Office is proud to offer.”

For Western Union, its CEO said that this move was part of an overarching strategy for the firm.

“This collaboration marks an expansion of our strategy to open our platform to new alliances and solve the complexities of cross-border, cross-currency transactions for companies”, said Hikmet Ersek, President and CEO of Western Union.

“From settlement to regulatory compliance, we’re uniquely positioned to help many companies meet customers wherever they are in the financial ecosystem”, he added.

As the CEO of Western Union points out, this move is one in a line of several decisions by the firm to expand its offerings and ensure it has a presence in a range of relevant locations. A similar partnership announcement from elsewhere came last week, and the firm is likely to do this more and more as time goes on. Western Union appears to be on an aggressive and strategic expansion project – and it seems prudent to expect to see more of this in the coming months and years.

Find out more information about how firms like Western Union are advancing the international payment services agenda over at our news section.


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