Western Union and Online Resources Team for Last Minute Payments

April 04, 2011 08:00 AM Eastern Daylight Time 

CHANTILLY, Va., & ENGLEWOOD, Colo.--(BUSINESS WIRE)--Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, and The Western Union Company (NYSE:WU), a leader in global payment services, today announced both companies have teamed to provide financial institutions enhanced same-day, expedited payment solutions.

“Payment channels are evolving quickly as originators and consolidators are finding new ways to impact the speed, cost and accuracy in all bill payment channels”

The combination of these two premier payment processors significantly expands the options available to consumers who want to make last-minute bill payments to billers through the websites of more than 500 financial institutions. Western Union brings to Online Resources’ banking clients a greatly enhanced expedited payments service that now includes same-day delivery and posting to many more prominent billers in the mortgage, credit card, auto finance, telecom, cable, utility and other industries.

The offering enables financial institutions to provide the speed of delivery options, posting accuracy and value that their consumers demand for same-day payments in any channel.

“Payment channels are evolving quickly as originators and consolidators are finding new ways to impact the speed, cost and accuracy in all bill payment channels,” said David Shapiro, Senior Vice President of Western Union Payments. “By integrating our expedited payments network with a market leader in online banking, Western Union and Online Resources can offer a powerful tool for the entire payment industry.”

“By teaming with Western Union, we are delivering on the value and promise that banks envisioned for expedited payments: a broad-reaching service that is highly attractive to consumers,” said Robert R. Craig, Executive Vice President of eCommerce Services for Online Resources. “The combined reach and speed to billers will drive adoption of the service through financial institutions, and deliver more guaranteed, on-time payments to billers.”

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. The Western Union, Vigo and Orlandi Valuta-branded services are offered through a combined network of 445,000 Agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit www.westernunion.com.

About Online Resources

Online Resources (Nasdaq: ORCC) specializes in powering financial interactions between millions of consumers and the company’s financial institution and biller clients. Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, Online Resources has been recognized for its high growth and product innovation. It is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com.

Western Union Reports First Quarter Results

Revenue of $1.2 Billion and EPS of $0.30

Global C2C Transactions Increase 8%, led by U.S.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE: WU), a leader in the money transfer segment of global payments, today reported financial results for the 2010 first quarter.

“We are pleased with our global performance as we begin 2010. Our Americas business is gaining momentum with strong transaction growth in domestic money transfer, improving trends in Mexico, and stronger growth in U.S. Outbound.”

Financial highlights for the quarter included:

• Revenue of $1.2 billion, an increase of 3% compared to last year’s first quarter


• Constant currency adjusted revenue increase of 1%


• GAAP operating income margin of 26%, compared to 28% in last year’s first quarter


• GAAP and constant currency EPS of $0.30, compared to $0.32 in last year’s first quarter


• Cash provided by operating activities of $74 million, including the impact of a $250 million refundable tax deposit

Operational highlights for the quarter included:

• Generated 8% global consumer-to-consumer (C2C) transaction growth, a 300 basis point improvement compared to the fourth quarter, led by the Americas region and continued strong performance in Europe and Asia


• Continued U.S. turnaround in domestic money transfer business, which delivered 18% transaction growth in the quarter


• Advanced strategic initiatives, including more than doubling the number of prepaid cards-in-force and further developing the Custom House business-to-business growth infrastructure


• Signed several key new agents, including the Martin McColl convenience stores in the U.K. and the Giant Eagle supermarket chain in the U.S.


• Grew agent locations to more than 420,000


• Completed $200 million in share repurchases and paid $41 million in quarterly dividends

Western Union President and Chief Executive Officer Christina A. Gold said, “We are pleased with our global performance as we begin 2010. Our Americas business is gaining momentum with strong transaction growth in domestic money transfer, improving trends in Mexico, and stronger growth in U.S. Outbound.”



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Western Union Reports First Quarter Results

Revenue of $1.2 Billion and EPS of $0.30

Global C2C Transactions Increase 8%, led by U.S.

ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE: WU), a leader in the money transfer segment of global payments, today reported financial results for the 2010 first quarter.

“We are pleased with our global performance as we begin 2010. Our Americas business is gaining momentum with strong transaction growth in domestic money transfer, improving trends in Mexico, and stronger growth in U.S. Outbound.”

Financial highlights for the quarter included:

• Revenue of $1.2 billion, an increase of 3% compared to last year’s first quarter


• Constant currency adjusted revenue increase of 1%


• GAAP operating income margin of 26%, compared to 28% in last year’s first quarter


• GAAP and constant currency EPS of $0.30, compared to $0.32 in last year’s first quarter


• Cash provided by operating activities of $74 million, including the impact of a $250 million refundable tax deposit

Operational highlights for the quarter included:

• Generated 8% global consumer-to-consumer (C2C) transaction growth, a 300 basis point improvement compared to the fourth quarter, led by the Americas region and continued strong performance in Europe and Asia


• Continued U.S. turnaround in domestic money transfer business, which delivered 18% transaction growth in the quarter


• Advanced strategic initiatives, including more than doubling the number of prepaid cards-in-force and further developing the Custom House business-to-business growth infrastructure


• Signed several key new agents, including the Martin McColl convenience stores in the U.K. and the Giant Eagle supermarket chain in the U.S.


• Grew agent locations to more than 420,000


• Completed $200 million in share repurchases and paid $41 million in quarterly dividends

Western Union President and Chief Executive Officer Christina A. Gold said, “We are pleased with our global performance as we begin 2010. Our Americas business is gaining momentum with strong transaction growth in domestic money transfer, improving trends in Mexico, and stronger growth in U.S. Outbound.”



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Western Union Now Available Online to Banco do Brasil Customers

Western Union Money Transfer® Service Now Available Online to Banco do Brasil Consumers

ENGLEWOOD, Colo. & SÃO PAULO--(BUSINESS WIRE)--The Western Union Company (NYSE:WU), a leader in the money-transfer segment of global payments, and Banco do Brasil, the largest financial institution in Brazil, announced today the Western Union Money Transfer^® Money in Minutes service is now available online in Brazil to Banco do Brasil banked consumers through the bank’s Web site.

“Whether it is cash, account, or card based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide.”

“Our relationship with Western Union offers Banco do Brasil the ability to complement its range of products and services to reach new consumer segments and meet the unique needs of the diverse communities it serves,” said Admilson Monteiro Garcia, Managing Director Banco do Brasil International Business Division. “We see Western Union as a strategic brand that, in addition to our Brazilian market and banking expertise, will help Banco do Brasil to continue offering innovative financial services to new and existing consumers and to those who prefer online banking.”

The online money-transfer service arrangement with Banco do Brasil is an important step in Western Union's "go-to-market" strategy in Brazil. As Western Union expands its money-movement service offerings, and in an effort to strengthen both its relationship and value proposition with consumers, the company looks to tap into cash, account and card-based solutions.

Stewart A. Stockdale, President The Americas and EVP Global Cards and Global Key Accounts, said, “Our relationship with Banco do Brasil to offer online money transfer is part of Western Union’s new focus on identifying and driving the development of best-in-class services to expand the company’s business to new consumer segments in Brazil.”

“Whether it is cash, account, or card based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide.”

The Western Union Money Transfer service has been available in Brazil since 1997, when both companies started the relationship, providing international money-transfer services through Banco do Brasil’s network that currently includes more than 5,800 locations.

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 Custom House branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of more than 410,000 agent locations in 200 countries and territories. In 2009, The Western Union Company completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal between consumers, and 415 million business payments. For more information, visit www.westernunion.com.

About Banco Do Brasil

Banco do Brasil is the largest financial institution in Brazil, with 52,7 million clients, 45.400 ATMs, and 17.900 service points, 5.000 of which are branches spread over 3.600 cities in the country and also throughout more than 20 countries abroad. Banco do Brasil conglomerate is comprised of circa 20 controlled companies and a closed supplementary private social security institution. It turned 200 years old on October 12^th, 2008.

WU-G

Western Union Now Available Online to Banco do Brasil Customers

Western Union Money Transfer® Service Now Available Online to Banco do Brasil Consumers

ENGLEWOOD, Colo. & SÃO PAULO--(BUSINESS WIRE)--The Western Union Company (NYSE:WU), a leader in the money-transfer segment of global payments, and Banco do Brasil, the largest financial institution in Brazil, announced today the Western Union Money Transfer^® Money in Minutes service is now available online in Brazil to Banco do Brasil banked consumers through the bank’s Web site.

“Whether it is cash, account, or card based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide.”

“Our relationship with Western Union offers Banco do Brasil the ability to complement its range of products and services to reach new consumer segments and meet the unique needs of the diverse communities it serves,” said Admilson Monteiro Garcia, Managing Director Banco do Brasil International Business Division. “We see Western Union as a strategic brand that, in addition to our Brazilian market and banking expertise, will help Banco do Brasil to continue offering innovative financial services to new and existing consumers and to those who prefer online banking.”

The online money-transfer service arrangement with Banco do Brasil is an important step in Western Union's "go-to-market" strategy in Brazil. As Western Union expands its money-movement service offerings, and in an effort to strengthen both its relationship and value proposition with consumers, the company looks to tap into cash, account and card-based solutions.

Stewart A. Stockdale, President The Americas and EVP Global Cards and Global Key Accounts, said, “Our relationship with Banco do Brasil to offer online money transfer is part of Western Union’s new focus on identifying and driving the development of best-in-class services to expand the company’s business to new consumer segments in Brazil.”

“Whether it is cash, account, or card based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide.”

The Western Union Money Transfer service has been available in Brazil since 1997, when both companies started the relationship, providing international money-transfer services through Banco do Brasil’s network that currently includes more than 5,800 locations.

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 Custom House branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of more than 410,000 agent locations in 200 countries and territories. In 2009, The Western Union Company completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal between consumers, and 415 million business payments. For more information, visit www.westernunion.com.

About Banco Do Brasil

Banco do Brasil is the largest financial institution in Brazil, with 52,7 million clients, 45.400 ATMs, and 17.900 service points, 5.000 of which are branches spread over 3.600 cities in the country and also throughout more than 20 countries abroad. Banco do Brasil conglomerate is comprised of circa 20 controlled companies and a closed supplementary private social security institution. It turned 200 years old on October 12^th, 2008.

WU-G

Western Union to Pay $94 Million in Settlement, No Wrongdoing

Western Union to Pay in Border-Crime Deal



By RANDAL C. ARCHIBOLD

Published: February 11, 2010



Western Union will pay $94 million to settle a long-running battle with Arizona over whether the company turned a blind eye to the use of its services in border-related crime.



Under the agreement, in which Western Union admitted no wrongdoing, as much as $50 million will go to support law enforcement agencies working to crack down on drug and human smuggling in Arizona and three other border states. The company also agreed to provide border state prosecutors access to wire transfer records, something the company had resisted but Arizona officials considered crucial to their cases.



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HomeATM 's "P2P/Me2Me" Money Transfers

HomeATM Introduces Innovative "Real Time Peer 2 Peer Money Exchange Platform

HomeATM ePayment Solutions has introduced the world's simplest and most convenient real time "Person to Person" or "Me2Me" Money  Transfer Platform.

The new program is the most secure way to send money to anyone...anywhere...from the privacy, convenience and security of your own home.

Here's How Easy it is:

1.  Choose send money

2.  Enter email and Amount

3. Swipe Your Credit or Debit Card and Enter Your PIN

Your Done!  It's that easy!  And it's in "real time!"

Here's a more detailed overview including graphics: (which you may click to enlarge)

1. Choose "Send Money"
2. Enter Recipients e-mail Address

Input your (as sender) email address and then input the recipient's email address. As you can see from the example illustrated on the left, you can do a "Me 2 Me" transaction by inputting your email address as both the "sender" and the "recipient."  Of course you can just as easily send money to a friend, family member, business, etc by entering their email address as the recipient.

3. Enter the Amount you'd like to send.
4. Send Instantly or Schedule a Payment 

You may choose whether you want the money transfer to occur in "Real Time" (Transfer Now) or whether you'd like to transfer the money on a specific date of your liking.  If you'd like to choose a "Transfer Date" simply click on the calendar located on the right and select the date you'd like the transfer to take place.  As you can see from the graphic on the left, I chose October 28th, 2008 as my transfer date.

5. Enter Personalized Message

You may then enter your memo.  "Happy Birthday", "Here's the Money I.O.U" or "Others" which will prompt you to type in your personalized message.After you complete typing in your personalized message to the recipient, you will be given the choice of whether to accept responsibility for the transfer fee yourself, or charge the recipient for the amount of the transaction fee.

6.  Swipe Your Card and Enter Your PIN


To complete the transaction, you then simply Swipe Your Card" through your Wedgie. (HomeATM's Personal Swiping Device) Your personal swiping device will read the information off your magnetic stripe so you will not have to manually enter your Personal Account Number or expiration date. 

Not only does that make it more convenient for you but it makes it safer, because you are not "keystroking" your PAN.  The card data is instantaneously encrypted thus providing the user with the most secure transaction available on the web today. 

But we make it even safer.  After swiping your card, you will then be prompted to enter your PIN.  This provides the users with a dually-authenticated transaction.  After entering your PIN the transaction processes automatically.  You've just completed the world's easiest money transfer!

The email recipient gets an email with a "remittance" ID number and a password.  They copy and paste both the remittance ID and the password at HomeATM's site and are then prompted to "swipe" their card and "enter" their PIN and the transaction is completed in real-time.

To see a flash demo of this innovative new platfrom from HomeATM,
please click below:

HomeATM P2P/Me2Me Money Transfer Flash Demo

Visit http://www.HomeRemittance.com for more details.

We also have a Facebook Application at: 
http://apps.facebook.com/HomeATMPtoP/

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• HomeATM Wedgies Are All Good!
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• Revisting Gartner's Report on Consumers Preference for PIN Based Transactions
• Study: Use of Debit, ATM Cards on the Rise
• Debit Card Use Continues to Grow
• PIN Debit Has Highest Growth of All Payment Segments
• HomeATM Introduces "P2P/Me 2 Me" Money Exchange Platform
• The Benefits of Debit Cards by Bruce Cundiff via DebitFacts.org