Western Union's New Online Money Transfer is Integrated with Social Media

By: Charlotte Joyce Kidd - Oct 27, 2015
References: westernunion & techcrunch
Western Union's new online money transfer service will tap into its customers' existing networks by integrating itself with the world's biggest social media platforms.

Western Union was once the best-known and most dominant telegram company in the United States -- a service it only discontinued in 2006. Today, Western Union specializes in money transfer between corporations and individuals. Lately, however, smaller start-up businesses with easy-to-use online money transfer apps have been eating into Western Union's market. In order to keep up, the 164-year-old company has announced the creation of a new online money transfer service called WU Connect. WU Connect "integrates with social media and messaging services to transfer money worldwide," making it an advanced, easy-to-use online money transfer platform.

While older consumers still tend to prefer more conventional methods of payment and money transfer, millennials are willing to sacrifice a sense of traditional security for the convenience of being able to handle their finances as efficiently and conveniently as possible.