Payment services provider Western Union has
chosen to launch its international business payments service in the
Philippines.
Western Union Business Solutions aims to
provide cross-border business payments and foreign exchange
solutions to small and medium sized businesses.
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Petnet, a Western Union agent for consumer
money transfer services, has been named as the first agent to offer
the business payments service in the country after signing an
agreement.
“With a thriving import market for food
products and beverages, textiles, chemicals, travel and
wholesale/retail trade, the Philippines presents a compelling
opportunity for our international business payments service,” said
Raj Agrawal, general manager for Western Union Business
Solutions.
“A large percentage of local businesses are
small enterprises with many conducting cross border trade. Coupled
with universal Western Union brand recognition in the country, we
are poised to change the way international commerce is done in the
Philippines.”
By adding Western Union Business Solutions to
its product portfolio, it is argued Petnet can offer SMEs service
delivery for global business payments at competitive exchange rates
to over 200 countries and territories.
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