Western Union Expands Payment Services in Jamaica

Western Union extends collaboration with GraceKennedy’s FX Trader brand to offer WU® GlobalPay for FI

The Western Union Company (NYSE: WU), a leader in cross-border, cross-currency money movement, has announced an extended collaboration with GraceKennedy Currency Trading Services (GKCTS), to introduce the WU® GlobalPay for FI platform. This global platform enables businesses in Jamaica to make fast, efficient and affordable payments around the world with a trusted international partner.

The GlobalPay for FI platform enables GKCTS, which trades under the brand name FX Trader, to process transactions on behalf of its customers using an international payment network that spans more than 200 countries and territories around the world and in nearly 130 currencies. The simple, intuitive payment platform makes it easy for FX Trader staff to create international orders and find beneficiary bank information.

“We are proud to expand our collaboration with GraceKennedy’s FX Trader brand,” said Alfred Nader, vice president of Western Union Business Solutions for the Latin America and Caribbean region. “By adopting the WU GlobalPay for FI platform, GraceKennedy Money Services becomes the first financial institution in Jamaica with access to 130 currencies, the ability to process payments 24-hours a day and acquire an important competitive advantage in the financial sector.”

Western Union Business Solutions works with financial institutions to improve the revenue and retention potential of international payment services. Regardless of the size of an institution, Western Union Business Solutions offers global solutions and specialized support to make their international payment offerings world-class.

"Today's announcement will bring a new era of industry-leading financial services to businesses in Jamaica," said Don Wehby, Group Chief Executive Officer of GraceKennedy Limited. "We are very proud to bring the GlobalPay for FI platform to our customers, which will offer a world-class payment solution and open new opportunities of growth."

For more information about WU® GlobalPay for FI which enables clients to streamline their payment processes, help reduce payment costs, improve cash and risk management, and potentially boost your retention and satisfaction rates, please visit the GlobalPay for FI website.

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 September 30, 2018, 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 2017, is available in more than 50 countries and territories to move money around the world. In 2017, we moved over $300 billion in principal in nearly 130 currencies and processed 32 transactions every second across all our services. 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 GraceKennedy Money Services

GraceKennedy Money Services (GKMS) is the umbrella brand for the services offered by FX Trader - The Foreign Exchange Place from GraceKennedy Money Services, and Bill Express - The Bill Payment Place from GraceKennedy Money Services and Western Union - Moving Money for Better. Some or all of these services may be found in Jamaica, Trinidad and Tobago, Guyana, Anguilla, St. Kitts and Nevis, St. Vincent and the Grenadines, British Virgin Islands, Montserrat, the Cayman Islands, the Turks and Caicos and The Bahamas. For more information, visit www.gkmsonline.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181122005229/en/

Western Union Business SolutionsNatalie Campos Mejía, [phone] [e-mail] Money ServicesYolande Gyles Levy, 876 936 [e-mail]