UK-based retail network Post Office and global cross border, cross currency transfer specialists Western Union has announced a new “collaborative service” for UK consumers.
Partnering up aims to support businesses with further expanded digital international payment services whilst streamlining cross border transactions.
“Western Union’s international reach and scale mean we’re able to bring a new dimension to the Post Office’s digital offering for individuals and businesses,” explained Hikmet Ersek, President and CEO, Western Union.
“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.”
The Post Office will integrate Western Union’s cross-border money movement platform to its digital channel in order to transact international money transfers and payments.
Customers will be able to access international payment services via a Post Office and Western Union branded online portal with the process “modeled” on Western Union’s already existing global online transactional sites.
Owen Woodley, CEO of Financial services and telecoms, Post Office, commented: “The launch of this service is great news for our customers, and demonstrates how we’re committed to enhancing and expanding the services our customers can access through our digital channel.”
Post Office business users can begin to utilise the WU EDGE platform to make “near real-time” payment transactions in 54 currencies along with access other features.
“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,” Woodley continued.
“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.”
