- Western Union will continue its partnership with GraceKennedy Currency Trading Services, the owner of FX Trader
- GKCTS executives are proud to bring the platform to their customers
- WU’s GlobalPay allows FX Trader to create international orders for its clients
International money transfer brand Western Union announced the expansion of its services in Jamaica and its partner GraceKennedy Currency Trading Services (GKCTS) is proud to be using WU’s business solutions platform. The firm, known for its affordable overseas transfer rates, said that the move will make fund transfers a lot more affordable. Western Union executives noted over the weekend that the company will keep on collaborating with GraceKennedy Currency Trading Services for its GlobalPay for FI platform. The said platform will also make it possible for other Jamaican businesses to transfer money internationally at a faster, more efficient rate.
GKCTS, the owner of foreign exchange brand FX Trader, told reporters that its partnership with WU will enable them to process their customers’ transactions without worrying about reliability and fees. The partnership also gives FX Trader the power to send funds to over 200 countries in nearly 130 currencies. FX Trader representatives say that GlobalPay will provide its staff with the tools to create international orders as well as find beneficiary bank information.
FX Trader’s adoption of Western Union’s GlobalPay is a welcome development for Jamaican clients, analysts say.
Western Union Business Solutions VP Alfred Nader said that the company is “proud to expand” its collaboration with FX Trader. Nader added that GKCTS is “the first financial institution in Jamaica with access to 130 currencies”. He also told the media that payments can be processed 24 hours day. According to GKCTS representatives, the adoption of the technology will give FX Trader a competitive advantage.
“Today’s announcement will bring a new era of industry-leading financial services to businesses in Jamaica”, said Don Wehby, Group Chief Executive Officer of GraceKennedy Limited. He adds that the company is “very proud” to bring WU’s GlobalPay for FI platform to its customers.
Western Union’s partnership with GKCTS comes months after the former launched its services in the country. According to reports, last April marked Western Union’s first digital rollout in the Caribbean.
Western Union Global Money Transfer president Odilon Almeida told reporters that the vision of the brand is to connect its online presence with its offline network in order to “create an omnichannel offering that connects nearly every country in the world and is uniquely able to serve a large global customer base”.
Aside from providing a better payment platform for GKCTS, Jamaican customers can process their transactions online using the WU app and their credit or debit cards. They can also do the same with cash where they can key in the details online and send funds through any agent location. According to Khalid Fellahi, the money transfer firm’s Global Head of Digital, the company’s aim is “to offer the same convenience across the world with just a few clicks, anytime, anywhere”.
For more information about Western Union’s business solutions, take a look at our review of the money transfer brand here.
