Western Union Makes Strategic Investment in Mobile Payments Tech Company
Stake in Walletron Advances Western Union’s Mobile Technological Capability
ENGLEWOOD, Colo. and PHILADELPHIA, December 6, 2016—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
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.