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Western Union

Founding

Western Union, is the world’s leading express money transfer company with a history of 150 years.

It has the world’s largest and most advanced electronic money transfer financial network with agents in nearly 200 countries and regions around the world.

Western Union is a subsidiary of First Data Corporation (FDC), one of the Fortune 500 companies in the United States.

Western Union
Western Union
History

In 1851, Western Union was founded as the New York and Mississippi Valley Printing and Telegraph Company.

In 1856, the name was officially changed to Western Union Telegraph Company.

In 1871, the Western Union Money Transfer® service was introduced and has been the company’s primary business ever since.

In 1992, the Western Union® Money OrderSM service was launched, providing customers with quick and easy access to funds.

In 1996, the North American headquarters was established in Inglewood, Colorado, and new offices were opened in Paris, Vienna and Hong Kong.

In 2005, under the leadership of Christina Gold, President of Western Union Financial Services, (plus subsidiary Orlandi Valuta) the number of it’s partners worldwide reached more than 250,000.

In 2006, the historically important telegraph service was terminated and the transition was successfully completed.

Western Union is a financial services company with more than 480,0001 partner locations worldwide and continues to expand to serve all customers.  

Advantages

It is in the merchant’s best interest to receive the money first and ship it later.

Disadvantages

1. The remittance fee is charged for each payment, and the fee is high for small collections.

2. Many times buyers worry that the merchant will not ship the goods after payment, and therefore abandon the transaction.

3. It is a traditional type of transaction mode, which can not be well adapted to the new international market.

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Shipforme Process

1. Sign in/register for Yoybuy warehouse address

2. Place orders to Yoybuy warehouse address

3. Weighing and safety inspection of goods after the packages arrive at Yoybuy warehouse

4. Submit and pay for your orders

5. Shipping & Customer Sign-Off

The following major e-commerce platforms are leading the way in number of clients and transaction amount: