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May 03, 2019 | News Releases

Western Union Enables Payments Solutions in Switzerland, Expanding Support for Local Business Growth

Thousands of underserved Swiss SMEs to benefit from a suite of tailor-made services

Today, Western Union, a leader in cross-border, cross-currency money movement announces the expansion of Western Union Business Solutions’ suite of products to small and medium-sized enterprises (SMEs) in Switzerland, providing protection from adverse market developments while also giving the flexibility to tailor their strategy to specific requirements, hedging objectives and risk appetite.

Western Union Business Solutions provides tools to protect against adverse market developments while giving businesses the opportunity to participate in favorable moves. The combination of currency options and market insights supports Western Union Business Solutions’ vision for a simple and cost effective way of making international payments.

“Swiss SMEs face many challenges with international payments that can lead to a negative impact on their bottom line. The difficulty with forecasting cash requirements can put profit margins at risk,” said Beat Merkli, director sales Switzerland, Western Union Business Solutions. “The introduction of currency options will support business development and reduce risk of foreign payables and receivables.”

Risk management solutions are designed for businesses of every size, engaged in cross-border trade. For example, companies can now lock in a current exchange rate for a set period of time or choose flexible forwards, also known as currency options that will allow them to effectively manage risk while taking advantage of positive changes in market exchange rates.

“By offering a full suite of risk management solutions to small and medium-sized enterprises (SMEs), we can help businesses execute a simple but effective risk management plan with the right combination of risk management solutions to protect against currency volatility and ultimately support business growth,” added Frederic Simon, vice president Europe, Western Union Business Solutions.

Forward Contracts and Currency Options in Switzerland will be sold by Western Union Business Solutions through Western Union’s wholly owned subsidiary, Rüesch International, LLC (Swiss branch). Western Union Business Solutions now offers Currency Option products in the UK, Australia, New Zealand, Singapore, Canada, United States of America, Austria, Germany, Czech Republic, Poland, Italy, France, Ireland, and Switzerland.

For organizations seeking a partner to optimize cross-border funds management, Western Union Business Solutions equips you with the solutions you need to send, receive, and manage funds in 200 countries and territories, and in over 130 currencies. Our extensive global network combined with our local market knowledge enables you to manage international payments simply, quickly and efficiently.