Cross-border payment services
Western Union Business Solutions, a unit of global payment service, The Western Union Company, is launching its business-to-business service in Chile, Cyprus and Jordan (view press release). Through local partnerships, Western Union Business Solutions will offer cross-border payment services in the countries, designed to enable businesses and organisation to make international payments with increased speed and transparency.
In Chile, Western Union Business Solutions’ payment offerings will be provided by Chilexpress, a courier and logistics company operating in around 360 Chilean cities. In Cyprus, the company will be introduced via GAP Vassilopoulos, a logistics provider with a strong SME client base. Western Union Business Solutions’ partner in Jordan is Kamal Exchange, a money exchange company with long-standing links to the business and finance community.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
