Doing business anywhere in the world has become easier for New Zealand businesses with the launch of an online payment service from The Western Union Company (NYSE:WU).
The new service gives access to online payments round-the-clock in more than 135 currencies. Customers are able to make international payments to over 200 countries and territories around the world, taking advantage of the global clearing network of Western Union, one of the largest in the world, to enable local currency payments.
Called ‘Western Union Business Solutions Online FX,’ the service has been designed to meet the needs of Small and Medium-sized businesses (SMEs) that operate overseas and to manage international payments at any time, whether they are using the office or home computer, or are on the move with a tablet or smart phone.
“This new online product will help Kiwi companies take advantage of business opportunities, wherever they are in the world. It uses Western Union’s existing list of over 135 currencies in which it transacts, and a network of countries where funds can be cleared locally. This new service is good news for business and the economy as a whole,” Chris Wilson, Country Manager (New Zealand), Western Union Business Solutions said.
“Operating abroad and moving money across borders are facts of life for New Zealanders, which is why we are pleased to offer a service that is designed to make it easier for SMEs in particular to manage and maximize international opportunities with minimal cost,” he added.
There are more than 450,000 SMEs in New Zealand that account for about 44% of the economy’s total output on a value added basis.
In addition, according to the New Zealand Treasury, the volume of goods and services imported will grow by 2.8% in 2013, while exports are forecast to grow by 2.1%, making a service of this nature even more important.
Fast, transparent
Mr Wilson said that speed and transparency are important benefits of the new online service.
“The energy and pace needed to keep up in the global marketplace can be a real challenge for SMEs who are often issues rich and resource poor. When doing business overseas, transactions should be swift and direct to minimise the costs associated with transacting across multiple jurisdictions and exchange rates. This service is about enabling SMEs to be online, mobile and able to transact directly in as many currencies as possible,” he said.
In addition to the 24-hour access, Western Union Business Solutions Online FX will help customers check real-time exchange rates and fees, and receive live customer support. The platform also allows businesses to lock in exchange rates to ensure the recipient receives the precise amount expected.
Western Union Business Solutions enable companies of all sizes to send and receive international payments and manage foreign exchange, creating unique solutions tailored to suit their FX needs.
Western Union Press Release
