Welcome to our dedicated page for Western Union news (Ticker: WU), a resource for investors and traders seeking the latest updates and insights on Western Union stock.
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement, offering innovative financial services that empower individuals and businesses worldwide. With over 160 years of history, Western Union has firmly established itself as the largest money transfer company globally, handling over 270 million transactions in 2023 alone.
The company’s core business revolves around providing domestic and international money transfers through an extensive network of approximately 600,000 agents located across more than 200 countries and territories. This network ensures that families, friends, and businesses can easily send money and stay connected almost anywhere in the world. Western Union’s agents and employees are considered ambassadors of trust, responsibility, and hope, reflecting the company’s core values and dedication to its consumers.
Recent achievements include the expansion of Western Union’s network of concept stores and company-owned hubs in Europe. As of December 2023, the company has inaugurated 100 locations across 13 European markets, including Spain, Italy, France, Germany, and the United Kingdom. These concept stores not only facilitate international money transfers but also provide a premium brand experience and enhanced service levels. This initiative is part of Western Union's broader retail strategy, aiming to offer an omni-channel experience to customers, support local micro-entrepreneurs, and promote financial inclusion within migrant communities.
Western Union continues to innovate with new ventures, such as the launch of WU Digital in San Francisco, CA. This technology-driven platform enhances the company's digital capabilities, providing faster, easier, and more convenient access to its services. The company’s commitment to financial inclusion is evident through its investments in micro-entrepreneurship, allowing retail partners to open exclusive Western Union locations and play a vital role in their communities.
Financially, Western Union is robust, with a strong presence in both the digital and physical realms, offering services across nearly 130 currencies. The company’s mission is to help people and communities prosper by providing accessible financial services, thereby enabling consumers, businesses, financial institutions, and governments to connect with billions of bank accounts, millions of digital wallets and cards, and a global network of retail locations.
For more information, visit www.westernunion.com.
Western Union (NYSE: WU) announced its participation in the Wolfe FinTech Forum on March 10, 2022, at 9:45 a.m. EST. CEO Devin McGranahan and CFO Raj Agrawal will present insights about the company's operations in cross-border and cross-currency money movement. Investors can access the presentation via a webcast on Western Union's investor relations page, with an archived version available post-event. Western Union connects consumers, businesses, and governments across over 200 countries and territories, facilitating seamless financial transactions.
The Western Union Company (NYSE: WU) announced its presentation at the 6th Annual Evercore ISI Payments & Fintech Innovators Forum on March 4, 2022, at 11:00 a.m. Eastern Standard Time. Chief Financial Officer Raj Agrawal will speak during the event. Investors can access the presentation through a live webcast available on the company's investor relations page. The archived presentation will be available after the event. Western Union is a leader in cross-border, cross-currency payments, connecting consumers and businesses globally.
Western Union is partnering with Travel Wallet to offer money transfer services through the Travel Wallet app in South Korea. Users can now send money internationally, with plans to enable receipt of funds in the future. The app supports both Android and iOS, allowing customers to fund transfers from local bank accounts. Western Union's extensive global network will facilitate cash and bank account payouts across various countries. This collaboration aims to enhance financial connectivity for users, contributing to Western Union's mission of providing seamless cross-border money movement.
The Western Union Company (NYSE: WU) reported Q4 earnings with a GAAP EPS of $0.42 and adjusted EPS of $0.64, marking a year-over-year increase. Digital money transfer revenue soared by 22% in 2021, exceeding $1 billion. Q4 revenue reached $1.3 billion, a 1% increase, buoyed by digital growth despite a slump in retail transfers. The company announced a new $1 billion share repurchase program and a quarterly dividend of $0.235 per share. For 2022, revenue is expected to decline mid-single digits, with adjusted EPS projected between $1.90 and $2.00.
The Western Union Company (NYSE: WU) will host a webcast and conference call on February 10, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full year 2021 results. A press release with the financial results will be issued at approximately 4:05 p.m. ET the same day. Interested parties can access the webcast at https://ir.westernunion.com. Dial-in numbers for the call include +1 (669) 900-6833 or +1 (253) 215-8782 with a conference code of 950 4942 2800. A replay will also be available on their website.
Western Union has announced the waiving of all transfer fees for international money transfers into Tonga until February 28, 2022, in response to the recent volcanic eruption and tsunami. This offer applies to transactions via Westernunion.com, the Western Union app, and its retail Agent network across over 200 countries. Additionally, the Western Union Foundation has pledged up to USD100,000 for humanitarian relief, with employee and agent donations eligible for matching contributions.
The Western Union Company (NYSE: WU) announced a quarterly cash dividend of $0.235 per share, payable on December 31, 2021. Stockholders of record will be those registered by the close of business on December 17, 2021. Western Union is a leader in cross-border, cross-currency money movement, connecting businesses and consumers globally. With a vast network spanning over 200 countries and territories, it facilitates access to billions of bank accounts and millions of digital wallets.
The Western Union Company (NYSE: WU) has announced the retirement of CEO Hikmet Ersek, effective December 31, 2021, after 21 years with the company. Devin B. McGranahan, previously of Fiserv, Inc., will succeed Ersek as CEO and has also been appointed to the Board of Directors. McGranahan aims to accelerate growth, expand payment offerings, and leverage Western Union's robust financial strength and unique cross-border platform. Ersek will assist in the transition as a special advisor until mid-2022.
The Western Union Company (NYSE: WU) has expanded its strategic partnership with Mastercard, enhancing their digital collaboration in cross-border payments. The integration of Mastercard Send into Western Union's network allows U.S. domestic recipients to load funds onto debit cards instantly. Additionally, 16 European markets can now send money transfers directly to Mastercard debit cards, improving transaction speeds. This partnership aims to position Western Union as a leading global financial network.
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