ST. PETERSBURG, FL, USA - Western Union Business Solutions, one of the world's leading providers of cross-border business payments, has extended its WTA partnership through 2016.
Under the terms of the multi-year renewal, Western Union Business Solutions will continue as the WTA's official international payments provider and manage all corporate foreign exchange services. In addition to that, the WTA's tournaments will exclusively utilize Western Union Business Solutions to pay out prize money on behalf of all WTA tournaments as part of the player benefits program.
"Western Union Business Solutions provides our members - players and tournaments alike - with a reliable and secure payment system," Stacey Allaster, the Chairman & CEO of the WTA, said about Thursday's announcement. "With 54 WTA tournaments in 33 different countries, we need someone with experience handling lots of financial transactions quickly, accurately and across the globe."
"We are proud to continue offering our cash management and foreign exchange expertise to the Women's Tennis Association, a major global powerhouse in women's professional sports," said Jonathan Rees, Managing Director, North America, Western Union Business Solutions.
"Western Union Business Solutions is a leader in risk reduction and strategic solutions when it comes to international cash flow," Rees added, "which means the WTA can spend less time managing funds and more time focusing on its world class tournaments."