Western Union, Hyperwallet Launch Mass Payment Solution - Analyst Blog
Western Union Business Solution – unit of the world’s leading money transfer company, Western Union Co. WU – rolled out a global mass payment product through a strategic tie-up with Hyperwallet, a global leader in the payments industry.
The new product is aimed at revamping the way bulk of business-to-consumer payments is made. We expect it to be well received by the market given the global exposure and brand recognition that its makers enjoy.
Hyperwallet’s established technological platform and Western Union’s wide geographic reach should allow Western Union Business Solution a global network, enabling payments in over 130 currencies. The solution’s integrated foreign exchange management feature and advanced treasury services should also make it a coveted mass payment product.
Western Union Business Solution will make it easier for businesses to make huge payments in different denominations worldwide, thus opening up global commercial opportunities.
A global mass payment product from a branded company like Western Union will ensure speedy payments in a secure, convenient and flexible way. It will simplify the mass payments process and reduce the barriers that stand between businesses and their payees.
Hyperwallet’s technological strength coupled with Western Union’s widespread reach makes great business sense from both operational and strategic growth standpoints.
Western Union’s alliance with Hyperwallet reflects its intent to be a leading player in global mass payments, which are expected to see growth.
Another player providing global mass payment service is Bank of New York Mellon Corp. BK.
Western Union carries a Zacks Rank #2 (Buy). Other players in the same space worth considering include Fiserv, Inc. FISV and Ingenico S.A. INGIY. Both these stocks carry the same Zacks Rank as Western Union.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
WESTERN UNION (WU): Free Stock Analysis Report
FISERV INC (FISV): Free Stock Analysis Report
BANK OF NY MELL (BK): Free Stock Analysis Report
INGENICO SA (INGIY): Get Free Report
To read this article on Zacks.com click here.
Zacks Investment Research
