For everyone that has been above land for a very long time, we would all be familiar with Western Union even if we have never used one. Western Union is simply a US-based financial institution that is focused on global payment and remittance services, defining the way in which transactions are done globally when funds are involved.
The Western Union has, in a way to increase its usage and make access and use easier, launched the WU Connect platform which would enable users transfer and receive money via mobile and social media.
The WU Connect platform works by simply integrating the Western Union money transfer service into third party digital platforms (such as credit card and debit card technology or even, ordinary bank accounts) to enable people send money between themselves, to friends and to family. Western Union itself is not looking to build an app but would operate on the existing infrastructure. This would even create an ease of use for the customers who would not have to start downloading an application or creating some new accounts before they can use this feature.
“At Western Union, we are actively listening to the voice of consumers and using that feedback as the basis for innovation in all of cross-border money transfer and payment capabilities,” the President and CEO of Western Union, Hikmet Ersek, said in a press release.
He continued that “We are continuing to build upon our core strength, expanding our digital business, investing in technology and compliance capabilities to connect the digital and physical worlds.”
The WU Connect platform would be available across various global messaging, social and digital networks.