https://www.bankingtech.com/2019/07/pos ... -payments/
Post Office is expanding its cross-border digital payments offering for UK businesses and consumers by teaming up with Western Union, reports Jane Connolly.
Western Union’s cross-border money movement platform will be accessible as an integrated service on a jointly branded online portal.
Businesses will be able to make use of Western Union’s WU-EDGE platform, which offers near real-time payments in 54 currencies, along with cash flow and profit protection tools.
“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,” says Owen Woodley, CEO of financial services and telecoms at Post Office.
He adds: “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.”
Hikmet Ersek, president and CEO of Western Union, comments: “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. From settlement to regulatory compliance, we’re uniquely positioned to help many companies meet customers wherever they are in the financial ecosystem.”
With 11,500 locations, Post Office has a larger retail network than the UK’s high street banks and building societies.