Western Union Invests In Walletron

Western Union announced Tuesday (Dec. 6) it made a strategic investment in Walletron, the mobile wallet bill presentment and payment company.

In a press release, Western Union said the investment, which it did not disclose the size of, supports Western Union’s strategy to bring smart and convenient payment methods to its customers via a mobile phone. Walletron automates brands’ presence in mobile wallets, like Apple Wallet and Android Pay.

“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 omnichannel strategy,” said Khalid Fellahi, SVP and GM of Western Union Digital, in the press release.

In Aug. 2016, a commercial alliance was announced between Western Union and Walletron, which allows Western Union’s electronic bill payment service, Speedpay, to offer biller clients the option to add Walletron moBills technology. The technology allows customers to personalize notifications, bill information and payments via their smartphones. Western Union noted that mobile is a key player in the future of bill payments. Based on Western Union’s Payments 2016 Money Mindset Index, 27 percent of all consumers and 48 percent of Gen Y consumers said they pay more bills by a mobile device.

In October, Western Union, taking the stage at the Money20/20 conference in Las Vegas, laid out its plans for digital enhancements for its consumer- and business-facing enterprises. “Our large, fast-growing digital network, combined with our regulatory understanding and compliance infrastructure, gives us opportunities to drive real value in all money transfer scenarios.”

Those value-driving opportunities include an omnichannel upgrade to its mobile app that makes it simple for consumers to send funds to 200 countries worldwide. Users can fund those transactions in a variety of ways, including a bank account, card or (as always) cash via an agent location. This new feature is available in the U.S. and the U.K. presently. The company expects to roll out the service in the coming months in France, Germany and Canada.