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Fintech & Ecommerce

Western Union expands its B2B payments platform

Mar 01, 2021

This way, it aims to bring faster and more transparent payment services to business customers

Western Union platform

Western Union expands its B2B payments platform. Source: pixabay.com

Western Union Business Solutions, the payments arm of the Western Union Company has announced the expansion of its global capabilities. It has integrated SWIFT Global Payment Initiative and increased its international currency options within its WU Mass Payments API to 130.

By integrating SWIFT Global Payment Initiative (GPI), Western Union Business Solutions advances its global financial network for a growing portfolio of business customers seeking greater operational efficiency for payments worldwide. As a SWIFT GPI member, Western Union Business Solutions will provide clients with increased visibility and certainty that their payments will rapidly reach their intended destination.

Increased currency support in its WU Mass Payments API enables Financial Institutions to transact in more currencies by integrating a flexible global payments network into their own product or service.

Partners can send up to 10,000 payments in over 130 currencies in a single batch with near real-time payment tracking, report functionality, and automated notification changes to payment status with the option to route payments over the Western Union Business Solutions global network.

We are continuously advancing our capabilities to give our clients the tools to access the growing global marketplace. Adding Swift GPI and expanding our currency portfolio within our Mass Payments API advances not only our competitive advantage but that of our customers. Customers expect, and now have, payments that are faster, traceable, transparent, consistent, and more reliable. We give them that, along with our global compliance program
Scott Johnson, Head of Product at Western Union Business Solutions

We’ve reported that Western Union will soon offer its money transfer services at Walmart.

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