Western Union Makes Strategic Investment in Mobile Payments Tech Company
December 06 2016 - 8:30AM
Business Wire
Stake in Walletron Advances Western Union’s
Mobile Technological Capability
The Western Union (NYSE: WU) Company, announced today that it
has made a strategic investment in Walletron, Inc. a pioneer in
mobile wallet bill presentment and payment capabilities.
The investment supports Western Union’s strategic direction to
bring smart and convenient payment experiences to its customers via
smartphones. Walletron automates brands’ presence in mobile wallets
like Apple Wallet and Android Pay, powering digital engagement and
serving billers through a unique and innovative bill-to-wallet
solution, moBills.
“Western Union is driving mobile as our priority customer
engagement channel across our money transfer and payments business.
Our association with Walletron reinforces this direction, which
forms part of our overall omni-channel strategy,” said Khalid
Fellahi, Senior Vice President and General Manager, Western Union
Digital.
In August 2016, a commercial alliance was announced between the
two companies, which will allow Western Union’s electronic bill
payment service Speedpay, Inc. to offer biller clients the option
to add Walletron moBills® technology. The technology allows
customers to enjoy personalized notifications, bill information,
and a streamlined payment experience via their smartphones.
Walletron moBills operates within native mobile wallets on
leading smartphone operating systems. When a customer has the
moBills card in their wallet, they can view current bill
information, pay bills, update notification preferences, view a
copy of past bills, and access their account page.
Mobile is a key factor for the future of bill payments, as shown
in Western Union’s Payments 2016 Money Mindset Index; 27 percent of
all consumers and 48 percent of Gen Y consumers say they will pay
more bills by a mobile device.
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 September 30, 2016, the Western Union, Vigo and
Orlandi Valuta branded services were offered through a combined
network of over 550,000 agent locations in 200 countries and
territories and over 100,000 ATMs and kiosks, and included the
capability to send money to billions of 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. Speedpay, Inc. is a wholly owned
subsidiary of E-Commerce Group Products, Inc., which is a wholly
owned subsidiary of Western Union
About Walletron
Walletron, Inc. delivers a SaaS platform that automates brands’
presence in mobile wallets like Apple Wallet and Android Pay. The
system manages the content and appearance of digital cards
consumers place in these wallets. Initially established to deliver
mobile wallet loyalty to the enterprise, Walletron now also serves
billers through the world’s only bill-to-wallet solution, moBills.
Wallet items persist until removed and allow clients to send
branded notifications that light up consumers’ devices with
tailored messages, without ever downloading an app. The mobile
wallet channel lets consumers pay bills in a mere two taps – and
billers are able to communicate with customers in a trusted and
engaging way. To learn more about Walletron, visit
www.walletron.com.
WU-G
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Western UnionSarah Meske, +1
303-250-9102sarah.meske@westernunion.com
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