answer blog # 2

"Western Union Financial Services, Inc."

Western Union Financial Services, Inc. operates the world's largest money-transfer network, comprising more than 117,000 agent locations spread throughout more than 185 countries. Through its network, consumers and businesses are able to transfer money or make payments with money orders and other electronic systems. Western Union sells more than 250 million money orders annually. The company operates as a private subsidiary of First Data Corporation, a payment services company.

As we continue to expand our market presence and convenient load locations, Western Union provides unparalleled ubiquity for our cardholders. The agreement with Western Union helps Trycera provide our cardholders the flexibility they need to manage personal spending and budgets at prices below other competitive alternatives."
"Now Trycera's customers can take advantage of our prepaid services and load money to their cards in a convenient and fast way. We are pleased to share a common goal with Trycera: to deliver services that consumers want and need,"

A payment service provider offers merchants online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time bank transfer based on online banking. Some PSPs provide unique service to processes other next generation methods including eWallets, Cash, prepaid cards or vouchers, and even paper or e-check processing.

PSP can connect to multiple acquiring banks, card, and payment networks. In many cases the PSP will fully manage these technical connections, relationships with the external network, and bank accounts. This makes the merchant less dependent of financial institutions and establishing these connections directly - especially when operating internationally.
A full service PSP can offer risk management services for card and bank based payments, transaction payment matching, reporting and fund remittance, in addition to multi-currency functionality and services. Payment is obviously the critical last step in closing any transaction between businesses and their customers who deserve to be served efficiently, smoothly and most importantly, first time. This means that choosing a PSP is a vital decision for organisations of all kinds and sizes otherwise they risk leaving their transactions and reputation to chance.

Political risk and danger of a change of government.