Western Union's New Foreign-Exchange (FX) Payment Service enablesmobile payments via smartphones

The Western Union Company has announced the launch of a new foreign-exchange (FX) payment service that will enable small and medium-sized enterprise (SME) business clients to make payments from their smartphones. The new mobile-friendly payment service is now available in countries where Western Union currently offers online payment and FX services through its Business Solutions division, including the United States, Canada, the United Kingdom, Germany, Italy, France and Australia. The new mobile service is designed for busy professionals and offers an intuitive interface for customers making international business payments. The service, which offers more than 140 currencies to choose from, allows users to make payments to suppliers in global markets anywhere, anytime, and lock in a currency-exchange rate and fee before transferring funds.

Commenting on the launch, Western Union Business Solutions’ General Manager Raj Agrawal said: "The sheer demand for innovative mobile services is evident, and our clients want to take advantage of new m-payment options. This new mobile payment service not only makes it easier to transfer funds globally to foreign suppliers and workers but also offers the ability to take advantage of foreign currencies when making international payments."