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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.
The Oxford Economics report commissioned by Western Union (NYSE: WU) highlights the critical role of international remittances during the COVID-19 pandemic, suggesting they have bolstered developing economies' resilience. The report indicates that P2P transfers surpass foreign direct investment, directly impacting poverty reduction and economic growth. It underscores the importance of these funds, describing remittance senders as 'Economic First Responders.' With remittances rising to $548 billion in 2019, the report predicts that unexpected strengths may persist in 2021, despite the World Bank’s forecasts of a decline.
Walmart (NYSE:WMT) and Western Union (NYSE:WU) have announced a partnership to offer Western Union money transfer services at over 4,700 Walmart locations in the U.S. starting in spring 2021. This collaboration aims to provide customers with enhanced financial services, including both domestic and international money transfers, bill payments, and money orders. With this agreement, Walmart customers will benefit from Western Union's extensive global network, facilitating money transfers to more than 200 countries and territories, reinforcing Walmart's commitment to financial inclusion and customer convenience.
The Western Union Company (NYSE: WU) will present at the Wells Fargo TMT Summit on December 1, 2020, at 6:00 p.m. Eastern time. CFO Raj Agrawal and President Shelly Swanback will speak during the investor presentation. Interested investors can listen via webcast on the Western Union website, under investor relations. The company is a leader in cross-border money movement, with over 550,000 retail locations in more than 200 countries, facilitating financial inclusion and economic growth.
Western Union (NYSE: WU) has expanded its real-time digital payout capabilities to 100 countries, connecting to billions of bank accounts. This initiative, part of the company's digital growth strategy, aims to enhance its industry-leading digital services. In Q3 2020, digital revenue increased by 45% year-over-year, making up 21% of consumer business, with projections exceeding $900 million annually. Digital transactions grew by 96%, with notably strong performance from the mobile app and digital partnerships, positioning Western Union as a leader in cross-border payments.
The Western Union Company (NYSE: WU) has announced a definitive agreement to acquire a minority stake in stc pay, a leading digital wallet service in Saudi Arabia. Western Union will invest up to $200 million for up to 15% ownership in stc pay. This investment is part of a broader strategy to enhance their digital growth, as the company reported a 45% year-over-year increase in digital revenues in Q3 2020. The transaction is expected to close in Q1 2021, subject to regulatory approvals, and will strengthen the existing partnership between Western Union and stc pay.
The Western Union Company (NYSE: WU) will present at the Citi Financial Technology Conference on November 16, 2020, at 3:00 p.m. Eastern time. The presentation will feature comments from CFO Raj Agrawal. Interested investors can listen via a webcast available on their investor relations page. Western Union is a leader in cross-border money movement and payments, operating over 550,000 retail locations in more than 200 countries, facilitating financial inclusion and economic growth.
Western Union (NYSE: WU) has expanded its global digital network, enhancing real-time payout options in over 120 countries, up from 100. The company now offers real-time payment speeds in 80 countries, an increase from 50 in April 2020. This initiative aims to meet the growing customer demand for transparency and immediacy in cross-border payments. With over 550,000 agent locations worldwide, Western Union facilitates money movement in over 130 currencies, targeting 100 countries for real-time capabilities by year-end 2020.
The Western Union Company (NYSE: WU) has announced an extension to its longstanding partnership with The Kroger Co. (NYSE: KR), continuing a 35-year relationship that facilitates money transfers for Kroger customers. This non-exclusive agreement allows customers to utilize Western Union's digital and retail services across more than 2,300 Kroger locations in the U.S. The partnership enhances customer convenience for domestic and international money transfers, bill payments, and money orders, leveraging Western Union's extensive global network.
The Western Union Company (NYSE: WU) plans to host a webcast and conference call on October 29, 2020, at 4:30 p.m. ET to discuss its third-quarter 2020 financial results. The press release detailing these results will be issued at approximately 4:00 p.m. ET the same day. Participants are required to register for the event in advance. The company's network includes over 550,000 retail agent locations across more than 200 countries, providing a robust infrastructure for cross-border payments and money movement.
The Western Union Company (NYSE: WU) has announced a partnership with Bank-Fund Staff Federal Credit Union (BFSFCU) to enhance international payment services for its 90,000 members worldwide. This collaboration will allow BFSFCU members to send payments in over 130 currencies to more than 200 locations and receive in over 30 currencies. The partnership aims to provide a trusted solution for managing international wire services, leveraging Western Union's compliance expertise and foreign exchange services.
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