Western Union introduces new cash management tool for SMEs

UK: Western Union Business Solution, an unit of the Western Union global payment company (NYSE: WU), on Thursday launched its new products – Currency Options and GlobalPay Cash Management dashboard for small and medium-sized enterprises (SMEs).

Western Union Business Solution’s GlobalPay Cash Management dashboard offers SMEs worldwide an immediate overview of their total payments exposure and they will be able to calculate their FX risk based on the amount of money and currencies they are trading in at current market price, allowing them better to manage their international risk and cash flow.

Another new released product – Currency Options will help SMEs in UK to protect their margins from increased currency volatility by allowing them to set a forward exchange rate a specified date and then choose whether to use the pre-agreed amount or to reconsider given current market conditions.

Author: VSDaily Editor

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