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Western Union (WU) Partners to Boost Account-Based Payout Network
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The Western Union Company (WU - Free Report) recently collaborated with Indonesia’s PT Artajasa Electronic Payment (Artajasa) to ease bank account and wallet payouts for customers across the country.
Following the announcement of the latest partnership, Artajasa was added to the list of bank account and wallet payout partners of Western Union in Indonesia. Customers can seamlessly receive international money transfers within minimal time in their respective bank accounts spread across the country. Meanwhile, the facility of receiving the same transfers into wallets is expected to go live in later 2022.
Initiatives similar to the latest one reflect Western Union’s continuous efforts to seamlessly move money and bolster its account-based payout network (comprising bank account, wallet or card payouts) across Indonesia. This positions WU perfectly to capitalize on the prevailing scenario, wherein customers are looking for seamless and reliable ways to transfer their hard-earned money, particularly into bank accounts.
It is worth mentioning that Western Union is equipped with payout processing capabilities into billions of bank accounts, millions of wallets and cards stretched across over 130 countries and territories, out of which real-time payout capabilities are available in 100 of them. The global money movement leader has an expansive retail network in place, which offers the payout facility in cash in more than 200 countries and territories.
The recent tie-up also highlights Western Union’s efforts to strengthen its capabilities and presence throughout Indonesia. Artajasa, a pioneer of electronic transactions in the country with more than two decades of payment systems experience, seems to be the apt partner for complementing WU’s endeavor.
In the past, WU has collaborated with several financial service providers of Indonesia for better management of international payments, which has led to a strong nationwide foothold of Western Union. In August 2021, Western Union tied up with Indonesia’s state-owned bank Bank Syariah Indonesia (BSI), in a bid to extend the former’s services to more than double the locations it previously served across the country.
WU keeps a keen eye on Indonesia since the country’s digital market holds ample growth prospects. A tech-savvy population of the country results in higher usage of smartphones and increased Internet penetration. The availability of diversified payment tools has contributed to the digital market growth of the country. Per E-Commerce Analytics of the leading data and analytics company, GlobalData, Indonesia’s e-commerce payments are anticipated to witness a CAGR of 22% over the 2021-2025 period.
Western Union has made substantial investments to build a robust digital arm, which delivers speedy and affordable money transfer services. The arm proved to be of great use amid the rapidly growing digital economy, wherein people continue to resort to digital money transfers to address their needs. With the inclination toward digital means likely to sustain in the long term as well, WU remains well-poised to witness digital revenue growth.
Shares of Western Union have gained 2.5% year to date against the industry’s decline of 3.9%.
Image Source: Zacks Investment Research
WU currently has a Zacks Rank #4 (Sell).
Similar to Western Union, other companies such as Mastercard Incorporated (MA - Free Report) and Visa Inc. (V - Free Report) have resorted to creating a solid digital arm for capitalizing on the solid demand for hassle-free money transfer services.
Mastercard has been focused on collaborating with global and regional financial service providers to upgrade the money movement process for consumers and businesses. MA has been resorting to a digital partnership strategy and undertaking significant investments to upgrade its digital capabilities.
Visa facilitates the seamless and secure transfer of funds on a real-time basis worldwide. For complementing its endeavor, V pursues collaborations to aid the cross-border payments industry with innovative digital solutions to replace age-old processes. Visa B2B Connect delivers innovative B2B cross-border payments and keeps on adding partners to its network.
WEX’s earnings surpassed estimates in each of the last four quarters, the average surprise being 9.96%. The Zacks Consensus Estimate for WEX’s 2022 earnings suggests a 25.4% rise from the prior-year reported figure, while the same for revenues indicates growth of 12.4%. The consensus mark for 2022 earnings has moved north by 0.4% in the past seven days. WEX has a Value Score of B.
Shares of Visa and WEX have gained 0.8% and 28.1% respectively, year to date. Meanwhile, Mastercard stock has lost 2.8% in the same time frame.
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Western Union (WU) Partners to Boost Account-Based Payout Network
The Western Union Company (WU - Free Report) recently collaborated with Indonesia’s PT Artajasa Electronic Payment (Artajasa) to ease bank account and wallet payouts for customers across the country.
Following the announcement of the latest partnership, Artajasa was added to the list of bank account and wallet payout partners of Western Union in Indonesia. Customers can seamlessly receive international money transfers within minimal time in their respective bank accounts spread across the country. Meanwhile, the facility of receiving the same transfers into wallets is expected to go live in later 2022.
Initiatives similar to the latest one reflect Western Union’s continuous efforts to seamlessly move money and bolster its account-based payout network (comprising bank account, wallet or card payouts) across Indonesia. This positions WU perfectly to capitalize on the prevailing scenario, wherein customers are looking for seamless and reliable ways to transfer their hard-earned money, particularly into bank accounts.
It is worth mentioning that Western Union is equipped with payout processing capabilities into billions of bank accounts, millions of wallets and cards stretched across over 130 countries and territories, out of which real-time payout capabilities are available in 100 of them. The global money movement leader has an expansive retail network in place, which offers the payout facility in cash in more than 200 countries and territories.
The recent tie-up also highlights Western Union’s efforts to strengthen its capabilities and presence throughout Indonesia. Artajasa, a pioneer of electronic transactions in the country with more than two decades of payment systems experience, seems to be the apt partner for complementing WU’s endeavor.
In the past, WU has collaborated with several financial service providers of Indonesia for better management of international payments, which has led to a strong nationwide foothold of Western Union. In August 2021, Western Union tied up with Indonesia’s state-owned bank Bank Syariah Indonesia (BSI), in a bid to extend the former’s services to more than double the locations it previously served across the country.
WU keeps a keen eye on Indonesia since the country’s digital market holds ample growth prospects. A tech-savvy population of the country results in higher usage of smartphones and increased Internet penetration. The availability of diversified payment tools has contributed to the digital market growth of the country. Per E-Commerce Analytics of the leading data and analytics company, GlobalData, Indonesia’s e-commerce payments are anticipated to witness a CAGR of 22% over the 2021-2025 period.
Western Union has made substantial investments to build a robust digital arm, which delivers speedy and affordable money transfer services. The arm proved to be of great use amid the rapidly growing digital economy, wherein people continue to resort to digital money transfers to address their needs. With the inclination toward digital means likely to sustain in the long term as well, WU remains well-poised to witness digital revenue growth.
Shares of Western Union have gained 2.5% year to date against the industry’s decline of 3.9%.
Image Source: Zacks Investment Research
WU currently has a Zacks Rank #4 (Sell).
Similar to Western Union, other companies such as Mastercard Incorporated (MA - Free Report) and Visa Inc. (V - Free Report) have resorted to creating a solid digital arm for capitalizing on the solid demand for hassle-free money transfer services.
Mastercard has been focused on collaborating with global and regional financial service providers to upgrade the money movement process for consumers and businesses. MA has been resorting to a digital partnership strategy and undertaking significant investments to upgrade its digital capabilities.
Visa facilitates the seamless and secure transfer of funds on a real-time basis worldwide. For complementing its endeavor, V pursues collaborations to aid the cross-border payments industry with innovative digital solutions to replace age-old processes. Visa B2B Connect delivers innovative B2B cross-border payments and keeps on adding partners to its network.
A Stock to Consider
A better-ranked stock in the financial transaction services space is WEX Inc. (WEX - Free Report) carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
WEX’s earnings surpassed estimates in each of the last four quarters, the average surprise being 9.96%. The Zacks Consensus Estimate for WEX’s 2022 earnings suggests a 25.4% rise from the prior-year reported figure, while the same for revenues indicates growth of 12.4%. The consensus mark for 2022 earnings has moved north by 0.4% in the past seven days. WEX has a Value Score of B.
Shares of Visa and WEX have gained 0.8% and 28.1% respectively, year to date. Meanwhile, Mastercard stock has lost 2.8% in the same time frame.