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PSD2 Open Banking Solution 

Open Banking Overview

Innovation Made Easy

Open Banking at Western Union (WU) refers to third party access to payments services that our customers can use online. It offers a secure way for customers to access their WU account information or initiate payments via their service provider's platform. It is one of the hallmarks of the Second Payment Services Directive (PSD2) and paves the way for new financial products, services and opportunities by allowing regulated third party service providers to register and integrate with existing payment service providers like WU. For example, financial account aggregation service providers will be able to help customers view and manage their finances by collecting their available account balances and payment history from various sources (including WU) and reflecting them on their platforms.

 Access levels and privileges vary depending how WU offers its products and services to its customers online and also how the third party service provider connects with WU as an Account Information Service Provider (AISP) or Payment Information Service Provider (PISP). 

Account Information Service Providers (AISP):

An AISP typically provides online services to consolidate information from financial accounts held by a customer at various financial institutions. Through an AISP, customers are able to request access to their available payment account balances and / or 90 days' worth of their transaction history. AISP's are also able request this information in an unattended mode (without the customer actively requesting this information) up to 4 times in a 24 hour period, unless otherwise agreed. 

Payment Initiation Service Providers (PISP):

A PISP typically provides an online service to initiate payment orders at the request of the customer. Through PISPs, customers can initiate, quote and book their payments with WU. Settlement will be taken in accordance with the customer’s preferred (default) methods with WU including from his/her account balance. PISPs will be able to book foreign exchange transactions. 

Innovation Made Secure

PSD2 mandates customers use the new Security and Strong Customer Authentication (SCA) requirements when allowing AISPs and PISPs access to their WU payment account.

Customers must multi-factor authenticate using their WU credentials to allow access to their payment account information or initiate payments on their behalf. Service providers are not privy to customer's login information and must direct customers to a WU login page to authenticate and provide access. Approval given by customers for account information access is valid for 90 days unless revoked by the customer, whereas the permission for initiating payments is only valid for that payment and therefore must be re-executed each time the customer wants to make a payment.  
All third party service providers must be regulated by the relevant EU financial services regulators in their EU Member State.

These measures help ensure that the customer is in control of who can access their account and what they can do as a third party provider.

Important Information

WU may not have an agreement with the third party service provider. The customer should rely upon the agreement and consent it has given to the third party service provider. The third party service provider should act in accordance with that agreement and consent.If you have any questions regarding your agreement to receive payment services by WU, please contact us.

System Availability

WU’s Open Banking APIs will be available for use 24 hours a day between 21:00 UTC on Sunday to 23:00 UTC on Friday. Outside these hours, you may experience intermittent outages due to system maintenance.

Note: WU's testing sandbox environment will experience intermittent outages due to upgrades.


To obtain information on how to integrate with WUIB’s Open Banking Solution, please complete the information below.