Western Union, a global payment services provider, will launch its international business payments service in the Philippines. Petnet – a Western Union agent for consumer money transfer services – has signed an agreement to offer Western Union business solutions in the Philippines. Western Union business solutions provide cross-border business payments and foreign exchange (FX) solutions to small and medium-sized businesses (SMEs).
“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, 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.”
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