The payments division of Western Union has integrated with the Swift Global Payment Initiative for faster transfers, and has added international currency options.
The payments division of Western Union has integrated with the Swift Global Payment Initiative for faster transfers, and has added international currency options. The increase in currency options to 130 within the WU Mass Payments API provides more choices for cross-border payments clients of Western Union Business Solutions. The WU division says it has a growing portfolio of business customers seeking greater operational efficiencies for payments worldwide. Swift, a financial messaging standards provider for international payments, introduced its GPI initiative nearly five years ago as a way for its network of banks to operate under similar processes and standards, as well as fuel innovation. Swift GPI has generally acted as a conduit to domestic faster payments networks, establishing the standards needed for banks to easily operate internationally along those rails.
