The Western Union Company (WU - Analyst Report) recently launched a mobile platform in Canada for domestic and cross-border money transfer. This new application will be available exclusively on iOS and Android operating systems.
Western Union’s revolutionary physical and digital money transfer infrastructure can now be easily accessed with the new app, which will facilitate money transfer across the globe in just a few clicks. In addition, the app will allow Canadian customers to access an improved digital channel customized to easily send funds to more than 200 countries and territories. Users will also be able to keep track of the current exchange rates and fees. Moreover, the provision to monitor past and pending transactions will allow customers to manage their consumptions and savings well.
The app will also extend round-the-clock customer service and enable easy tracking of money transfers using mobile devices. The app will also help users locate Western Union’s Agents – 500,000 worldwide and nearly 3,300 in Canada alone.
Western Union has established its leadership in the global digital money transfer industry with an online presence in 37 countries. This in turn has allowed the global money transfer service provider to continuously improve its revenue base.
The latest product launch in Canada also reflects Western Union’s commitment to enhance its digital platform. Moreover, Canadian businessmen prefer to deal with companies that value their cultural and economic circumstances. Western Union has earned considerable repute and goodwill in this regard, making Canada a preferred business area. In addition, the service launch is expected to further strengthen Western Union’s foothold in Canada where it has been present since the last 25 years.
With the shift in payment mode, most companies from the global payment industry are turning to innovation to gain a competitive edge. Like other big players like Global Payments Inc (GPN - Snapshot Report) , FleetCor Technologies, Inc. (FLT - Snapshot Report) , JetPay Corporation (JTPY - Snapshot Report) , Western Union too intends to increase its usage through added capabilities, enhanced value propositions and expanded reach.
Western Union presently carries Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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