Western Union is a financial services company based in the United States that enables individuals and companies to transfer money. The main services that Western Union offers to their clients include money orders, prepaid cards and business payments. The service also allows consumers to pay for mortgages, car loans and utilities.
Western Union explained
Western Union services provide clients with fast, secure and reliable methods of sending and receiving money across the globe. This money transfer service operates in over 200 jurisdictions around the world with an estimated 485,000 agents working in their network.
The three main categories of services that they offer clients are;
- Consumer-to-Consumer: sending and receiving through money transferred by third-party agents that employ money transfer systems for foreign currencies. Payments can be made through mobile processing, telephone, online as well as in person to the agent.
- Consumer-to-Business: accepting electronic as well as cash payments that enable clients to pay their bills, loans and mortgages through this service. Additionally payments can be made through the telephone as well as internet using credit/debit cards.
- Business-to-Business: with strong ties with banks on an international level, Western Union allows businesses to exchange money on a large scale. Moreover, businesses are able to receive risk management solutions, corporate account management services and foreign exchange services.
Western Union allows businesses to enhance their relationships with their customers as they offer easy and flexible money transferring solutions. It is the most widely used service with regards to making payments through wire transfers and money orders. Western Union services are highly popular and are recognized and employed by individuals and companies all over the world.