Western Union Announces Commitment to Design and Launch a New Financial Platform for NGOs
26 9월 2012 - 5:01AM
Business Wire
The Western Union Company (NYSE: WU), a leader in global payment
services, today announced its commitment to creating a financial
platform specifically designed to meet the payment needs of
non-profit, non-governmental organizations (NGOs) and the people
they serve.
The platform, Western Union® NGO Global Pay, will be created to
help NGOs overcome the ‘last mile’ and bridge the gap between funds
that need to be disbursed and the people who need them in the
field.
Hikmet Ersek, President and CEO of Western Union, spoke on the
opening day of the Clinton Global Initiative Annual Meeting in New
York to announce the company’s new Commitment to Action.
“I am very excited by our new commitment,” said Mr. Ersek. “Many
NGOs face persistent challenges delivering money to those who need
it most. Western Union® NGO Global Pay will help them overcome
these challenges and get funds into the field safely and securely.
It will be an end-to-end financial platform that will combine
Western Union’s innovative payment products with our unparalleled
global reach, meaning NGOs will be able to reach millions of people
with vital funds faster and more effectively than ever before.”
Western Union® NGO Global Pay will for the first time combine
the dedicated business-to-business payment products offered by
Western Union Business Solutions with the global infrastructure of
the Western Union Agent network. Specifically, it will leverage the
company’s 510,000 physical locations to help connect NGOs to the
people they serve in over 200 countries and territories around the
world.
Mr. Ersek continued, “Western Union is dedicated to serving the
underserved – which often includes NGOs – and we will continue to
work hard to increase their access to better, more inclusive
financial products.”
Western Union will work with NGO partners, including the
International Children’s Fund and Peace International, to design
financial products that will promote efficiency and transparency
via:
- New capabilities for moving funds via
Western Union’s global network of 510,000 Agent locations, helping
to solve the last mile challenge and enabling a more rapid response
in times of crisis;
- A wider array of pay-out options
(including cash, bank accounts, mobile phones, and prepaid cards)
for nonprofits to send funds to their field staff and
beneficiaries;
- Tools to help NGOs monitor and report
on fund disbursement, enabling greater end-to-end transparency and
accountability;
- Currency risk management solutions that
can help shield NGOs from exchange rate fluctuations;
- A portfolio of products that will
enable NGOs to receive and manage incoming funds in multiple
currencies efficiently, including integrated invoicing and tracking
tools and new donation fulfillment capabilities that offer
individual donors the opportunity to give online or in person via
Western Union’s global Agent network; and
- Financial education for NGOs on topics
from mobile money to currency exchange, helping them better manage
scarce and vital funds.
Western Union® NGO Global Pay will launch with select NGO
partners in November 2012 with further expansion planned for 2013.
The product, which represents Western Union’s new two-year Clinton
Global Initiative Commitment to Action, will be fully in force by
the end of 2014. It also builds on key insights from Western
Union’s successful CGI commitment, the Our World, Our Family®
program, a $50 million commitment to foster greater economic
opportunity for more than five million people worldwide.
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
June 30, 2012, the Western Union, Vigo and Orlandi Valuta branded
services were offered through a combined network of approximately
510,000 agent locations in 200 countries and territories. In 2011,
The Western Union Company completed 226 million
consumer-to-consumer transactions worldwide, moving $81 billion of
principal between consumers, and 425 million business payments. For
more information, visit www.westernunion.com.
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