Western Union Makes Strategic Investment in Mobile Payments Tech Company
The Western Union Company, announced today that it has made a strategic investment in Walletron,Inc. a pioneer in mobile wallet bill presentment and payment capabilities.
The investment supports Western Union’s strategic direction to bring smart and convenient payment experiences to its customers via smartphones. Walletron automates brands’ presence in mobile wallets like Apple Wallet and Android Pay, powering digital engagement and serving billers through a unique and innovative bill-to-wallet solution, moBills.
“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 omni-channel strategy,” said Khalid Fellahi, Senior Vice President and General Manager, Western Union Digital.
In August 2016, a commercial alliance was announced between the two companies, which will allow Western Union’s electronic bill payment service Speedpay, Inc. to offer biller clients the option to add Walletron moBills® technology. The technology allows customers to enjoy personalized notifications, bill information, and a streamlined payment experience via their smartphones.
Walletron moBills operates within native mobile wallets on leading smartphone operating systems. When a customer has the moBills card in their wallet, they can view current bill information, pay bills, update notification preferences, view a copy of past bills, and access their account page.
Mobile is a key factor for the future of bill payments, as shown in Western Union’s Payments 2016 Money Mindset Index; 27 percent of all consumers and 48 percent of Gen Y consumers say they will pay more bills by a mobile device.