Western Union signs agreement with Acxsys Corporation to offer expanded online account-based money transfer service to financial institution customers in Canada.
Enhancement of Interac e-Transfer® service will allow Canadian customers to send and receive funds via Western Union domestically and internationally
April 2, 2012 (Englewood, Colo.) – The Western Union Company (NYSE: WU), a leader in global payments, and Acxsys Corporation, a recognized leader in debit payments services, today announced an agreement to offer Western Union® domestic and international money transfer services to financial institutions in Canada offering the Interac e-Transfer service. The agreement paves the way for expanded access to money transfers for Canadian customers via the enhanced Interac e-Transfer service and Western Union system. Previously, the Interac e-Transfer service permitted account-to-account transfers only within Canada.
The agreement will expand the Interac e-Transfer service by giving banking customers the ability to send and receive money transfers directly through their online and mobile bank accounts, with funds accessible for pay out at more than 485,000 Western Union® Agent locations in more than 200 countries and territories.
"Our agreement with Acxsys Corporation is an illustration of the continuing changes taking place at Western Union and our aggressive efforts to expand the company's business to new consumer and Agent segments in Canada, including financial institutions," said Stewart A. Stockdale, executive vice president and president, Global Consumer Financial Services, Western Union.
Stockdale concluded, "By entering into this agreement, Western Union and Acxsys Corporation will help meet the prevailing need for Canadian financial institution customers to conveniently send money around the corner and the world, with fund payout options. Clearly, Acxsys Corporation is a great partner for us and we look forward to growing this business together with them."
The Western Union global money transfer service enhancement will be made available to the expanding list of over 90 financial institutions in Canada currently offering the Interac e-Transfer service.
"Customers love Interac e-Transfer and with the global Western Union network, we can give customers more options to serve their money transfer needs," said Mark O'Connell, President and CEO, Interac Association and Acxsys Corporation. "We will be working together to introduce the expanded service to financial institutions across Canada."
Interac e-Transfer provides a fast and secure way to send and receive money almost instantaneously from one Canadian bank account to another through online or mobile banking, by either using a mobile phone number or an email address. Money never travels by email or text message; this is used only to notify the recipient and to provide the recipient with instructions on how to deposit the money.
For more information about Acxsys Corporation and Interac® products and services, visit www.interac.ca. For more information about Western Union, visit www.westernunion.com.
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. As of December 31, 2011, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 485,000 Agent locations in 200 countries and territories. In 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and 425 million business payments. For more information, visitwww.westernunion.com.
About Acxsys Corporation and Interac Association
A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access their money through 59,000 Automated Banking Machines and 727,000 point-of-sale terminals across Canada. Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment related companies.
Other related services offered by Acxsys Corporation, whose shareholders are the architects of the Interac network, include: Interac Online, for secure online payments made directly from a bank account; Interac e-Transfer™, for the transfer of money from one person's bank account to another person's bank account using an email address or mobile phone number; and international services, which provide Canadian cardholders with point-of-sale access at nearly 2 million U.S. retailers, and PULSE, Discover, Diners Club International and UnionPay cardholders access to ABMs in Canada.
Dan Diaz, Western Union
L'Teisha Ryan, Western Union
+ 1 720.332.3824
Interac Association / Acxsys Corporation
Interac Association / Acxsys Corporation
®, ™: Interac, the Interac logo, and Interac e-Transfer are trade-marks of Interac Inc. Used under license.