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TheStreet Open House

Western Union Expands Global Digital Presence: WesternUnion.ng Launched In Nigeria

Stocks in this article: WU

The Western Union Company (NYSE: WU), a leader in global payment services, today announced the launch of a new web site in Nigeria. The Nigeria launch represents the first receive-enabled Western Union web site, globally.

“Western Union is growing its network and increasing consumer access to our services worldwide,” said Khalid Fellahi, senior vice president and general manager, Western Union Digital. “The launch supports our global retail Agent network, and is part of Western Union’s multi-channel consumer experience, which is a differentiator in today’s money transfer marketplace.”

Western Union service offerings deliver complementary digital and retail capabilities, and address evolving consumer preferences for international money transfers. For example, Western Union money transfer services allow the consumer to send funds to more than 500,000 retail Agent locations, into a mobile wallet, or opt to direct the transfer into a recipient’s bank account.

In Nigeria, consumers can receive funds from 200 countries and territories at nearly 5,000 Western Union retail Agent locations in the country, or use www.WesternUnion.ng to direct the funds into a bank account with Guaranty Trust Bank, Skye Bank, Stanbic IBTC Bank and Wema Bank.

Online services in Nigeria were launched in cooperation with Interswitch Limited. Speaking to the Interswitch relationship, Mr. Fellahi added that, “Western Union will continue to explore opportunities that facilitate financial inclusion and increase speed to market for new money transfer services in key regions around the world.”

For more information on Western Union’s global capabilities, including online and mobile money transfer services, as well as retail Agent locations, please visit www.WesternUnion.com.

About Western Union:

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of March 31, 2014, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs. In 2013, The Western Union Company completed 242 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 459 million business payments. For more information, visit www.westernunion.com.

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Copyright Business Wire 2010

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