- LONDON: Western Union, the world’s largest payment transfer company, said it will form a new unit, Western Union Ventures, to develop new service offerings, and will be led by Chief Marketing Officer Diane Scott.
The new unit will drive its strategic initiatives in three areas--consumer money transfer, business-to-business payments and new products and services, the company said in a statement.
Westernunion.com, prepaid/stored value, and mobile money transfer will be within the Western Union Ventures business unit.
The Englewood, Colorado-based company also said that David Yates, its Executive Vice President of Business Development and Innovation will leave the company effective Sept. 30.