Western Union Expands International Payment Services in Colombia

Today, 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, 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.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2019, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in approximately 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.

About Acciones&Valores

It is a brokerage company, agent of Western Union and with a tradition of 60 years in the Colombian stock market. It is committed to offering advice and solutions that adjust to the financial needs of its clients in an integral and transparent manner. It has more than 800 employees and more than 300 agencies in the country.

The alliance between Acciones&Valores and Western Union allows companies of all sizes to send and receive international payments and manage their cash flow, creating unique solutions tailored to the needs of each company. For more information, visit our website www.accivalores.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190619005029/en/

Western Union Business Solutions:Natalie Campos Mejía, +55 11 [e-mail] / [e-mail]&Valores:Alina Camacho Hauad, 57-1 [e-mail] / [e-mail]