Western Union Turning Australian Gas Stations into Cash Transfer Hotspots
Western Union Co (WU) - Get Western Union Company Report and BP plc (BP) - Get BP Plc Report announced a deal Monday that will allow Australians to send money overseas at 302 BP gas stations down under, The Wall Street Journal reported.
The partnership lets users set up transactions on the Western Union app and pay a gas station attendant in cash. The app already lets users in Australia pay via mobile devices for credit card transactions, but this partnership will open the money transfer to cash transactions outside of normal business hours.
The offer is aimed at taxi and Uber drivers, many of whom are immigrants who send money overseas to relatives at home. If the Australian rollout is successful, Western Union will expand the service to other countries.
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Western Union has recently worked to expand its retail presence with kiosks in Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report stores in the U.S. and WH Smith bookstores in the U.K. and a mobile partnership with Tencent Holdings' (TCEHY) WeChat app.
Western Union faces increasing international competition as rival MoneyGram International (MGI) - Get MoneyGram International, Inc. Report nears a deal with Alibaba's (BABA) - Get Alibaba Group Holding Ltd. Report Ant Financial.
Western Union stock traded slightly down late-morning.
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