LONDON--(BUSINESS WIRE)--Western Union Business Solutions, a business unit of the Western Union Company (NYSE: WU), a leader in global payment services, has signed an exclusive deal with Mercer Outsourcing, the U.K.’s largest pension administrator, to handle payments to retirees living in 80 countries.
Mercer Outsourcing will now pay their overseas pensioners through Western Union Business Solutions.
With this agreement, retirees who receive pension payments through Mercer will benefit in a number of ways:
- Funds can be delivered directly into a bank account in 80 countries in more than 44 currencies.
- Retirees will receive their payments more quickly than ever before – generally within 2 days.
Mercer Outsourcing employees will benefit from a more streamlined and transparent payments process. They will also be able to validate a pensioner’s details before payments are made.
“This alliance – the largest deal we’ve ever done in the UK – will position Western Union Business Solutions as a leader in processing overseas pension payments,” said Raj Agrawal, President, Western Union Business Solutions. “We hope to replicate this model in the U.S. and Australia, providing convenient, efficient and innovative solutions for employers and their employees.”
“As the world becomes increasingly globalised, we are seeing more British pensioners moving abroad,” said Jonathan Mindell, EMEA Business Leader, Mercer Outsourcing. “This service will allow us to offer our clients a more competitive solution and the world-class customer service Western Union Business Solutions is known for.”
Western Union Business Solutions enables companies of all sizes to send and receive cross-border payments and manage foreign exchange, creating unique solutions tailored to suit their FX needs. As a leading non-bank provider of business payments, Western Union Business Solutions offers its services through locally licensed affiliates in 23 countries. Supported by a network of trading offices, strategic banking relationships and a global clearing network, businesses can send cross-border payments in more than 140 currencies.
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, visit www.westernunion.com.
About Mercer Outsourcing
Mercer is a global leader in human resource consulting and related services. The firm works with clients to solve their most complex human capital issues by designing and helping manage health, retirement and other benefits. Mercer’s 20,000 employees are based in more than 40 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 52,000 employees worldwide and annual revenue exceeding $10 billion, Marsh & McLennan Companies is also the parent company of Marsh, a global leader in insurance broking and risk management; Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a global leader in management consulting. Follow Mercer on Twitter @MercerInsights
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