Western Union Business Solutions - Technology creates trade opportunities for millions of SMEs globally

07/06/2016

Speaking at PayExpo Europe 2016 in London today, Kerry Agiasotis, President of Western Union Business Solutions, discussed the progress of the payments market in 2016 at the keynote panel.

“SMEs have a tremendous opportunity to use technology to advance the way in which they do business. By investing in digital tools SMEs can now connect with each other internationally to drive global trade and consequentially grow, like never before.

 “New technologies have enabled companies to successfully increase activities with trading partners across the globe by increasing efficiencies and reducing risks. An example of this is the growth of financial technology allowing companies to reduce the time taken to make international transfers from days to minutes. This kind of technology has enabled companies to transition from local businesses to global traders.

 “Many businesses were unable to effectively manage the financial risks and opportunities associated with foreign currencies, and managing cash flow amid fluctuations in exchange rates can be very important. Western Union Business Solutions recently launched 'EDGE' to support SMEs all over the world to trade faster and easier with each other. Our new platform gives businesses access to fee-free near real-time global cross-border payments, we  are broadening the capabilities of SMEs like never before.”

 Agiasotis concluded "The payments market needs to sustain its momentum and bring innovations to all markets as digital expansion continues across the globe. Companies will be able to build trusted connections with each other like never before, they will be empowered to make smarter business decisions and manage new challenges with confidence, which ultimately leads to business growth, job creation and wealthier nations.”

 Kerry Agiasotis, President of Western Union Business Solutions, gave this address to a delegation of representatives from the international banking community, retailers, transport operators and mobile network operators at the PayExpo Europe 2016 in London today. The event was attended by over 2000 senior decision makers from over 50 countries. The panel discussion was titled, ‘2016, is the payments market on track?’

 

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Media Contacts:

Liesl Smith, Director, Global Corporate Communications
Western Union Business Solutions
Phone: +44 (0)208 563 6347

Mobile: +44 (0) 7710 185864

Liesl.smith@westernunion.com

 

Vanessa Chance/Lizzy Chesters
Redleaf Communications
+44 (0)207 382 4740
wubs@redleafpr.com

 

About Western Union Business Solutions

 Western Union Business Solutions enables companies of all sizes to send and receive international payments and manage global cash flow, 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 offers Business Solutions services in over 30 countries.  Clients are supported by a network of trading offices, strategic banking relationships and a global clearing network and can send cross-border foreign exchange payments in more than 130 currencies.  

 Services in the UK are provided by Custom House Financial (UK) Limited (which does business under the trade name of Western Union Business Solutions) or Western Union Business Solutions (UK) Limited (collectively referred to as "WUBS" or "Western Union Business Solutions"). 

 Custom House Financial (UK) Limited (registered in England, Company Number 04380026, Registered Office Address: 12 AppoldStreet, London EC2A 2AW) is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (Register Reference: 517165) for the provision of payment services and is registered as an MSB with HM Revenue & Customs (Registered No: 12140130).  Western Union Business Solutions (UK) Limited (registered in England, Company Number 02854737, Registered Office Address: 12 Appold Street, London, EC2A 2AW) is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (Register Reference: 536611) for the provision of payment services and is registered as an MSB with HM Revenue & Customs (Registered No: 12122416).

 

About Western Union

 The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Faciland 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, 2014, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments. For more information, visit www.westernunion.com

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, 2014, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments. For more information, visit www.westernunion.com.