The Western Union Company has announced the intention to sign long-term agreements with Lagardère Services, Ortel Finance and PayUp to provide Western Union global money transfer services in France, The Netherlands, Germany, Belgium, Spain, Portugal, Switzerland, Romania and Poland. The company has claimed that the agreements significantly expand its presence in Europe, as these companies bring important retail expansion opportunities to Western Union with over 15,000 retail locations across the continent.
Reportedly, signing up Lagardère Services, PayUp and Ortel Finance as Agents represents a major milestone in Western Union’s strategy to capitalise on the opportunities offered by the implementation of the EU’s Payment Services Directive (“PSD”). Coming into effect on 1 November 2009, the PSD seeks to increase pan-European competition, innovation and participation in the payments industry by creating a single market for payment services. It also enables retailers and other non-bank organizations to offer a portfolio of worldwide payment services, previously only offered by financial institutions in the EU.
Hikmet Ersek, executive vice president and MD, EMEA-APAC at Western Union, said: “The strategically important agreements with Lagardère Services, Ortel Finance and PayUp will allow Western Union to take advantage of the excellent growth opportunities presented by EU’s new Payment Services Directive. The agreements will enable Western Union to strengthen its brand, expand its distribution network into retail and enhance further the convenience and premium service we offer to our customers.”
Lagardère Services is a company dedicated to entertainment products and convenience services to its customers all over the world.
Ortel Finance is part of Ortel group of companies which also comprises Ortel Telecom. Since 2008, Ortel Finance delivers easy to understand and cheap financial products to multicultural communities, expats and foreigners who temporarily live in the Netherlands.
PayUp is a multinational brand of convenient electronic services offering cost-effective mobile top-up, convenient bill payments service for national and regional bill-issuing companies (such as utilities, telecoms and other major service companies), as well as offering a safe, convenient, easy to use service to the consumers.
