Western Union Celebrates 20 Years of Providing Service in China and Expands Its Reach

Press Release By Western Union Published OnApril 11, 2016

BEIJING–(BUSINESS WIRE)– The Western Union Company (NYSE: WU), a leader in global payment services, celebrated its 20th Anniversary of providing service in China recently. Senior Executives from Western Union, including Hikmet Ersek, Chief Executive Officer, Jean Claude Farah, Executive Vice President, Chris Cruzado, Regional Vice President of North Asia, and Wingo Wang, Country Director, China, attended the anniversary celebration event in Shanghai.

Since Western Union’s services first became available in China in 1995, Western Union has grown to become one of the largest money transfer companies in the country, with its services available at nearly 30,000 Agent locations nationwide in collaborations with 15 bank Agents as of December 31, 2015. For the past 20 years, Western Union’s goal to meet consumers’ needs has led it to continue to innovate to provide products that are relevant for its users and business needs in China.

Since 2012, Western Union in China has implemented a “go digital” strategy to service the growing digital banking market, by collaborating with 7 local banks in China to provide money transfer services through their internet banking platforms. Additionally, 2 banks are offering Western Union’s money transfer service via their mobile banking apps to provide consumers from around the globe with Western Union’s fast, reliable and convenient service with high mobility.

Western Union also announced its agreement with ChinaPay to offer a new cross border fast payment service through them. This service aims to provide a simple and convenient way to send cross-border payment from around the globe to customers in China. ZhanPing Sun, CEO of ChinaPay, attended the event announcing the launch of the service with Western Union.

Hikmet Ersek, Chief Executive Officer, Western Union, said on the celebration event, “Western Union employees and Agents are united by a common purpose to move money to improve lives and communities, driven by a desire to meet the needs of consumers and to provide them with personalized service. We are proud of what we have accomplished in China and this was only made possible through the work of our Agents, business partners and employees. We bring together people who are not only proud of our purpose and our global footprint, but eager to take Western Union further as we reach for our vision to be a recognized global leader in money transfer and payments.”

On the occasion of his visit to China, Western Union CEO, Hikmet Ersek, also handed over a donation of US$300,000 on behalf of Western Union Foundation to Save the Children to support its youth skills program in Asia.

About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of December 31, 2015, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to over one billion accounts. In 2015, The Western Union Company completed 262 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 508 million business payments. For more information, visit www.westernunion.com.

The Western Union Foundation is dedicated to creating a better world, where the ability to realize dreams through economic opportunity is not just a privilege for the few but a right for all. Through its signature program, Education for Better, and with the support of The Western Union Company, its employees, Agents, and business partners, The Western Union Foundation works to realize this vision by supporting education and disaster relief efforts as pathways toward a better future. Our combined social ventures efforts make life better for individuals, families and communities around the world. Since its inception, The Western Union Foundation has paid more than $106 million in grants and other giving. These funds have been pledged to more than 2,794 nongovernmental organizations in more than 137 countries and territories. The Western Union Foundation is a separate §501(c)(3) recognized United States charity. To learn more, visit www.westernunionfoundation.org, or Follow us on Twitter @TheWUFoundation.


Source: Western Union

Western Union

Suzanne Lopez

Communications Director, APAC