Mass Payments allows Western Union Business Solutions (WUBS) to provide a payment processing platform to accommodate high volume domestic and FX transactions with API functionality for payment, batching, reconciliation, processing, and sanctions visibility.
The Mass Payments platform supports a fully automated transaction lifecycle via an Application Programming Interface (API) based channel for a batch integration model.
Mass Payments allows customers to submit batches of beneficiary payments to WUBS for processing and to specify how they will fund each payment within a batch.
With this model, the customer is able to plan and budget for the remittance of a specific batch of payments.
A single batch can consist of payments with different trade (payout) and settlement currency combinations including:
Different trade currencies for the same settlement currency.
Different settlement currencies for the same trade currency.
Trade currency same as settlement currency.
NOTE: Payments with the same trade/settlement currency combination can only be assigned one currency (trade or settlement) as the fixed amount.
