US-based cross-border payments platform Western Union has deployed API access to its supporting front-end payment applications through its Business Solutions unit.
This new set of APIs provides approximately 37,000 business customers the opportunity to integrate their financial institutions, accounting and enterprise resource planning (ERP) systems and their account on GlobalPay.
The benefits of the API integration include streamlining payments processing and providing visibility to transaction and account history. In addition, the set of APIs provides transparency to foreign exchange rates, transaction costs and applicable fees and offer the latest forms of regulated European internet security.
The release of the suite of APIs corresponds to the European Open Banking, Payment Services Directive 2 (PSD2) requirements which came into force in September 2019. This includes Strong Customer Authentication (SCA), which is the latest standard of internet security in Europe. For more information, please go to business.westernunion.com.
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