Business Solutions represents around 7% of Western Union’s business. It was formed following the acquisitions of Custom House in 2009 and Travelex Global Business Payments in 2011.
Its main focus is on cross-border, cross-currency payments and foreign exchange solutions for small and medium-sized businesses and other organisations.
Hikmet Ersek, president and CEO of Western Union, says: “With this divestiture, Western Union will be fully focused on maximising the strength of our global cross-border payments platform and financial network.
