Advanced Online Payment Processing
Offering streamlined payment processing, improved cash and risk management tools
and reduced payment costs and errors, Western Union® Business Solutions' GlobalPay
helps you spend less time managing your payments and more time managing your business.
GlobalPay is our new payment solutions platform which has been specifically designed
to enable businesses to:
- Streamline their payment processing
- Improve cash and risk management
- Reduce payment costs and errors
Each component of functionality within GlobalPay has been built to solve specific
payments challenges. The platform was developed to support businesses of any industry
and size. As a result each solution can be implemented at various levels ranging
from basic to fully integrated depending upon your payment requirements.
Streamlined Payment Processing
GlobalPay allows you to process all payments – urgent and non-urgent, incoming
and outgoing, domestic and international – via a single system eliminating
the need for multiple platforms and complicated reconciliation.
GlobalPay can offer full 360-degree integration with your Finance/ERP system. This
allows you to upload files directly to eliminate manual re-keying of payment instructions;
the platform also has the capability to provide full reconciliation back into your
finance system and streamlined remittance delivery to your suppliers.
Improved Cash and Risk Management Tools
From a single screen you can view and schedule your incoming and outgoing payments,
providing you with full visibility over your cash flow position and currency exposure.
The ‘Holding Balance’ feature allows you to hold foreign currency for
a period of 90 days which is an attractive alternative to the numerous restrictions
applied to traditional foreign currency accounts. You can view your currency exposure
across various time frames and identify natural hedging opportunities. Historical
market data is also available online so you can model currency fluctuations at your
Within one platform GlobalPay lets you to identify your exposure, and determine
a suitable hedging strategy to cover risk and protect your bottom line.
Reduced Payment Costs and Errors
As a Western Union® Business Solutions customer, you can use our global network
of bank accounts to dramatically reduce your payments costs and to send your electronic
payments as low cost locally cleared payments – avoiding intermediary banks
and the high fees associated with sending an international wire.
Payment errors are time consuming, costly and impact your supplier relationships.
GlobalPay’s ‘Find a Bank’ feature gives you access to an entire
database of bank routing information for 130 countries, to ensure all payments details
are correct. GlobalPay enables you to search for your beneficiary’s bank,
providing just one or two pieces of information, and “Find a Bank” will
provide complete and up-to-date payment instructions for that bank. By auto-populating
the correct figures into your orders, you’ll not only save time upfront, but
also insure that time-consuming, confusing and expensive errors are avoided later.
To further reduce errors GlobalPay enables your suppliers to manage/ update their
own bank details online using our beneficiary management service.
You and your suppliers can also easily track your payments using Pay Tracker which
works like tracking a parcel in the post.
GlobalPay is a customised solution for your business. Our specialists will take
the time to evaluate your payment requirements and match the appropriate platform
capabilities that will add real value for your business.