Western Union, a global payments company, has activated its 40th wu.com transactional website, providing full digital access for cross-border person-to-person (P2P) money transfer services.
This is available across major developed nations including the US, Canada and major parts of Europe. Wu.com is also active in Australia, New Zealand, Hong Kong and the UAE.
Western Union plans to continue to expand its digital presence across Asia Pacific, the Middle East and Latin America and the Caribbean in the next phase of its online expansion, augmenting the company’s retail Agent footprint in more than 200 countries and territories.
According to the World Bank, while more than 75% of cross-border P2P transfers are sent into developing countries, people send money from nearly every country in the world.
Digital-initiated money transfer remains a high growth area and is expected to be the major driver of overall market growth in the coming years. With over USD 340 million of westernunion.com money transfer revenue in 2016, Western Union will continue to meet the increasing consumer demand.
In Q1 2017, more than 60% of wu.com transactions were initiated on a mobile device. This digital ramp-up follows the recent launches of Apple Pay as a funding method for digital users in the US, and Western Union’s money transfer bot for Messenger, which enables users in the US to make international money transfers without leaving the Messenger app.