Western Union and DHL Express have entered into a memorandum of understanding (MoU) to expand their cooperation to introduce international business payment services to DHL customers throughout Europe.

According to the MOU, the two companies plan to extend their alliance, which currently covers offering the Western Union Money Transfer service in Latin America and the Caribbean, to DHL's 5,000 locations in Europe. These locations include DHL's own locations and those owned by franchisees.

The two companies are in discussions to expand this collaboration by introducing business services to DHL customers.

The cooperation is expected to bring mutual benefit to both the companies, allowing Western Union to attract a new customer segment and enabling DHL Express to offer additional value-added services to its customers.

Western Union CEO Hikmet Ersek said that more and more businesses are making payments across borders, and this phenomenon is only expected to grow. DHL has an established base of business customers who have a need for these types of services. By working together, both the firms can introduce a convenient tool to support these businesses as they grow.