Western Union integrates SWIFT GPI; expands global B2B payments platform

By Pavithra R

Western Union Business Solutions, the payments arm of the Western Union Company, a global leader in cross-border, cross-currency money movement and payments, has announced the integration of SWIFT Global Payment Initiative and bolstered its international currency options within its WU Mass Payments API to 130.

This integration is expected to expand the company’s global capabilities, bringing faster and more transparent payment services to business customers. The announcement comes on the heels of the firm’s continuous effort to stregthen its payment capabilities as it executes strategy to advance its leadership in cross-border and cross-currency financial flows.

“We are continuously advancing our capabilities to give our clients the tools to access the growing global marketplace. Adding Swift GPI and expanding our currency portfolio within our Mass Payments API advances not only our competitive advantage but that of our customers. Customers expect, and now have, payments that are faster, traceable, transparent, consistent, and more reliable. We give them that, along with our global compliance program,” said Scott Johnson, Head of Product at Western Union Business Solutions.

By bringing SWIFT Global Payment Initiative (GPI), Western Union Business Solutions is advancing its global financial network for a growing portfolio of business customers looking for greater operational efficiency for payments globally. As a SWIFT GPI member, Western Union Business Solutions will provide clients with increased visibility and certainty that their payments will swiftly reach their intended destination.

Increased currency support in its WU Mass Payments API enables FIs to expand their reach, improve efficiencies and transact in more currencies by integrating a flexible global payments network into their own product or service. Partners can send up to 10,000 payments in over 130 currencies in a single batch with near real time payment tracking, report functionality, automated notification changes to payment status with the option to route payments over the Western Union Business Solutions global network.

Established in 1851, Western Union is a cross-border, cross-currency money movement and payment provider. According to company data, WU’s network includes over 550,000 retail agent locations offering its branded services in more than 200 countries and territories, with the capability to send money to several accounts.