Western Union to Serve NGOs - Analyst Blog
27 9월 2012 - 1:43AM
Zacks
In an effort to serve the NGOs in a better way, world’s leading
money transfer company, Western Union Co. (WU) has
announced to form a separate platform: NGO Global Pay. The service
will be dedicated to serve the non-profit, non-government
organizations. It will also be extended to the people served by
these organizations.
Western Union’s fast and reliable service will enable NGOs to
transfer funds without any delay. The company is bent on serving
this section of group, which it considers underserved. It will
start selecting the NGO partners in November 2012 and will continue
till 2013.
Under NGO Global Pay, Western Union will combine its
business-to-business payment products offered by Western Union
Business Solutions with the global infrastructure of the Western
Union Agent network. The company will use its wide agent network at
around 510,000 physical locations to connect NGOs to the people
they serve across more than 200 countries and territories around
the world.
The NGOs will get a number of payment options such as transfer
in cash or via bank accounts, mobile phones, and prepaid cards.
Under the program, these will be provided with ways to keep a track
on fund disbursement, which will provide greater transparency and
accountability.
Also, these organizations will be able to protect themselves
from any adverse forex movement effects by using currency risk
management solutions from Western Union. These will also receive
knowledge on the use of mobile to transfer money.
Global Pay idea for NGOs is one of Western Union’s steps to
show its dedication towards the ‘Clinton Global Initiative’ (“CGI”)
through its Commitment to Action. CGI is a platform, which
encourages organizations and corporations to do their bit in making
the world a better place by serving those who need help.
Western Union, which closely competes with MoneyGram
International, Inc. (MGI). The stock currently retains a
Zacks #3 Rank, which translates into a short-term Hold rating. We
are also maintaining our long-term Neutral recommendation on its
shares.
MONEYGRAM INTL (MGI): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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