An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Western Union Expands its Digital Wallet to Latin America
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
New Acquisition Expected to Accelerate Market Launch, with Brazil Anticipated to be Live in First Half of 2023
DENVER--(BUSINESS WIRE)--
Following a successful introduction of its digital banking offering in Europe in February 2022, Western Union (NYSE: WU) is gearing up to launch in Latin America. The Company announced the acquisition of Te Enviei, a Brazil-based digital wallet that will accelerate the time to market of Western Union’s financial ecosystem offerings in Brazil.
As part of its renewed purpose-driven strategy, Western Union is expanding its value proposition to customers by offering a broader set of digital financial services. By introducing its digital wallet in Brazil, Western Union plans to enable its customers to store funds, send money overseas and domestically, and pay their bills; all from the convenience of their phones.
“We are changing the way we interact with our customers today, moving from a transactional business to a customer-centric, relationship-based approach,” said Thomas Mazzaferro, Chief Innovation & Data Officer at Western Union. “Offering our Brazilian customers an integrated digital banking and money transfer solution will be a key milestone in this effort. We believe this acquisition will allow us to significantly accelerate our planned technology build, allowing for the faster roll out of our digital wallet in Brazil,” Mazzaferro added.
“Brazil is a strategically important market where we already hold a banking license, and it is a highly digitized banking market. Additionally, our internal research indicates that many Brazilians are looking for financial products that can address their needs in a global economy,” explained Ricardo Amaral, President of Western Union Brazil.
More information on the Company’s strategic plans, including with respect to its digital banking offerings, will be shared at its upcoming Investor Day on October 20.
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and approximately 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.
with a 160+ year history of connecting people when it matters most, western union continues to shape the world in which we live. western union offers one of the easiest ways for families, friends and businesses to send money and stay connected almost anywhere in the world. it all comes down to the relationships we’ve established over many years. together with our agents, we speak our consumers’ languages and live in our consumers’ neighborhoods. and we share our consumers’ cultures. we are a significant part of each other’s lives. as a result, our agents and employees are more like ambassadors. they are ambassadors of trust. ambassadors of responsibility. and ambassadors of hope. they are the living, breathing manifestation of who we are as a company and everything we stand for. we are inspired, driven, responsible, connected, and game-changers. and we're moving forward with other new ventures too! western union has launched wu digital in san francisco, ca. this technology-driven divis
