Western Union Launches New Products to Help SMEs
28 3월 2013 - 9:00PM
Business Wire
Western Union Business Solutions, a
unit of the Western Union Company (NYSE: WU), a leader in global
payment services, today announced the launch of Currency Options in
the UK as well as the worldwide release of a new cash management
tool designed to assist small and medium-sized enterprises (SMEs)
engaged in international trade.
Western Union Business Solutions’ new GlobalPay Cash Management
dashboard is a new tool that will give SME clients an immediate
overview of their total payments exposure. Users will be able to
calculate their FX risk based on the amount of money and currencies
they are trading in at current market price, allowing them better
to manage their international risk and cash flow.
Added to this is the launch of Currency Options in the UK.
British SMEs, many of whom have been hit by increased sterling
volatility in 2013 and are consequently struggling with cash flow,
will be able to further protect their margins from increased
currency volatility and still capitalize on favorable FX market
movements.
Business owners and corporate treasurers will now be able to set
a forward exchange rate at a specified date and then choose whether
to use the pre-agreed amount or to reconsider given current market
conditions. This gives SME owners the security of knowing the
absolute most that they will be required to pay for a transaction,
regardless of currency volatility.
Raj Agrawal, president, Western Union Business Solutions said:
“Currency volatility is hurting many of our clients who are seeing
their cash flows tighten in light of dramatic market activity. SMEs
in particular need more tools to help them manage their
international exposures effectively in order to be a step ahead of
the competition and grow their businesses in a challenging
market.”
“As the outlook for the global economy remains unclear, small
businesses are finding themselves under continued pressure. This is
why we are expanding and diversifying our product offering: to meet
a real and growing need for SMEs.”
FX Options in the UK will be sold by the UK branch of Western
Union’s wholly owned subsidiary, Western Union International Bank
GmbH, and follows a similar launch in Singapore in 2012. Western
Union Business Solutions now offers Currency Option products in the
UK, Australia, New Zealand, Singapore and Canada.
Western Union Business Solutions enables companies of all
sizes to send and receive international payments and manage foreign
exchange, creating unique solutions tailored to suit their
individual needs. It is a business unit of the Western Union
Company (NYSE: WU), a leading nonbank provider of cross border
payments, which operates its Business Solutions services through
locally licensed affiliates in 30 countries. Supported by a network
of trading offices, strategic banking relationships and a global
clearing network, businesses can send cross-border payments in
more than 135 currencies. © 2012 Western Union Holdings, Inc. All
rights reserved.
Western Union Business Solutions provides its Options
services in the UK through Western Union's wholly-owned subsidiary,
Western Union International Bank GmbH, UK Branch. Western Union
International Bank GmbH, UK Branch, 12 Appold Street, London, EC2A
2AW, is a branch of Western Union International Bank GmbH
(registered in Austria, company number FN256184t), Maderstrasse 1,
1040 Vienna, Austria. Western Union International bank GmbH
has approved this statement.
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
December 31 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 2012, The Western Union Company completed 231
million consumer-to-consumer transactions worldwide, moving $79
billion of principal between consumers, and 432 million business
payments. For more information, visit www.westernunion.com.
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