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Jun 19, 2019 | News Releases

Western Union expands international payment services in Colombia

Acciones&Valores in Colombia, to offer the WU GlobalPay for FI platform, allowing Acciones&Valores to use and offer its customers the ability to make their payments in a simple and efficient manner.

Western Union  (NYSE: WU), a leader in cross-border, cross-currency money movement, announces an expansion of services between its Western Union Business Solutions division and Acciones&Valores in Colombia, to offer the WU® GlobalPay for FI platform, allowing Acciones&Valores to use and offer its customers the ability to make their payments in a simple and efficient manner.

The GlobalPay for FI platform provides the benefits of international payment services without investing in new systems infrastructure. This online platform enables the processing of  transactions using a network that spans more than 200 countries and territories, available in 130+ currencies. GlobalPay for FIs is a simple, intuitive system that makes it easy to create international orders and find beneficiary bank information.

"We are very proud to expand our collaboration with Acciones&Valores through the integration of GlobalPay,” said Alfred Nader, vice president of Western Union Business Solutions for Latin America. “This digital platform will allow Colombian small and medium enterprises direct access to their international payments 24-hours a day, streamlining exports of flagship products such as coffee, flowers, fruits as well as imports of other commodities."

"With GlobalPay, we provide entrepreneurs the flexibility to make their transfers at any place and time from their mobile device or computer,” says Felipe Jaramillo, manager of Acciones&Valores Treasury Solutions. “The transfers eliminate intermediaries in the supplier’s local currency and saving potentially 10% in the cost of invoices issued by suppliers abroad. Our digital solution will be mainly offered to importers, exporters, pensioners living abroad, law firms and international students."

Western Union Business Solutions provides organizations with the ability to optimize cross-border payments with custom solutions to send, receive and manage international payments, leveraging a global network that spans more than 200 countries and territories, and over 130 currencies combined with local market insights to deliver simple, effective and efficient international payment management.