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Thousands of Irish SMEs could benefit from a suite of tailor-made
services

DUBLIN–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/finance?src=hash” target=”_blank”gt;#financelt;/agt;–Today, Western
Union
(NYSE: WU), a leader in cross-border, cross-currency money
movement, announces the expansion of Western
Union Business Solutions’
suite of products to small and
medium-sized enterprises (SMEs) in Ireland, providing protection from
adverse market developments while also giving the flexibility to tailor
strategies to specific requirements, hedging objectives and risk
appetite.

Western Union Business Solutions risk management solutions are designed
for businesses of every size, engaged in cross-border trade. For
example, companies can now lock in a current exchange rate for a set
period of time or choose flexible forwards, also known as currency
options, that will allow them to effectively manage risk while taking
advantage of positive changes in market exchange rates.

“Irish SMEs face many challenges with international payments that can
lead to a negative impact on their bottom line. The difficulty with
forecasting cash requirements can put profit margins at risk,” said
Joanne Hunger, director for Central Europe and Ireland, Western Union
Business Solutions. “The introduction of currency options will support
business development and reduce risk from foreign payables and
receivables.”

Forward Contracts and Currency Options in Ireland will be sold by
Western Union Business Solutions through Western Union’s wholly owned
subsidiary, Western Union International Bank GmbH. Western Union
Business Solutions now offers Currency Option products in the UK,
Australia, New Zealand, Singapore, Canada, United States of America,
Austria, Germany, Czech Republic, Poland, Italy, France, Switzerland and
Ireland.

“By offering a full suite of risk management solutions to small and
medium-sized enterprises (SMEs), we can help businesses execute a simple
but effective risk management plan with the right combination of risk
management solutions to protect against currency volatility and
ultimately support business growth,” added Frederic Simon, vice
president, FXS head of sales, Western Union Business Solutions.

For organisations seeking a partner to optimise cross-border payments,
Western Union Business Solutions provides solutions to send, receive and
manage international payments. Our extensive global network, spanning
200 countries/territories and 130 currencies combined with our knowledge
of local markets enables companies to manage international payments
simply, effectively and efficiently.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border,
cross-currency money movement. Our omnichannel platform connects the
digital and physical worlds and makes it possible for consumers and
businesses to send and receive money and make payments with speed, ease,
and reliability. As of December 31, 2018, our network included over
550,000 retail agent locations offering Western Union, Vigo or Orlandi
Valuta branded services in more than 200 countries and territories, with
the capability to send money to billions of accounts. Additionally, westernunion.com,
our fastest growing channel in 2018, is available in more than 60
countries, plus additional territories, to move money around the world.
In 2018, we moved over $300 billion in principal in nearly 130
currencies and processed 34 transactions every second across all our
services. With our global reach, Western Union moves money for better,
connecting family, friends and businesses to enable financial inclusion
and support economic growth. For more information, visit www.westernunion.com.

Contacts

Cristina Hoole
Western Union
Mobile: +44-(0)7766 070978
[email protected]