Mobile focused solution
The Western Union Company has announced the availability of two mobile applications for use with the Western Union® Speedpay® service. The global payment service provider aims to assist billers in introducing mobile payment solutions to their customers.
Consumers can access and manage their payments using a variety of platforms and devices, including Android, iPhone, and iPad, enabling them to make payments quickly and conveniently, when and where they choose. The app functionality also allows the consumer to access previous payment information for ease of use in subsequent payments.
The second Western Union Payments mobile app offering is specifically designed for billers in the utility industry. The functionality enables utility companies to provide their customers with the ability to view and pay bills, monitor usage, and track and report outages via their mobile devices. The app functionality was integrated with mobile applications offered byiFactor, a company specializing in communications for the utilities industry.
According to the Western Union® Payments Money Mindset Index, online and mobile bill payments are increasingly popular, with 39% of consumers saying they will pay more bills online in 2013, and 12% intending to pay more bills by mobile phone. An additional 11% of consumers say they will use more same-day payments, while 25% of consumers report that they will send fewer checks in the mail to pay their bills.
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
