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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 Western Union Company (NYSE: WU) will host a webcast and conference call on May 2, 2023, at 4:30 p.m. ET to discuss its first quarter 2023 results. A press release will precede this at 4:05 p.m. ET. The event is open to the public, but registration is required at least fifteen minutes prior to the start time. Participants can join by phone; U.S. dial-in is +1 (719) 359-4580 with meeting ID 920 8368 6498 and passcode 123540. International participants can find their respective numbers in the provided directory. Western Union provides financial services in over 200 countries and 130 currencies, aiming to help communities build financial futures. Visit ir.westernunion.com for more information.
Western Union has partnered with MoMo, Vietnam's leading super app, allowing 31 million MoMo customers to receive money transfers digitally from over 200 countries. This collaboration marks the first time a money transfer operator's services are available on a super app in Vietnam. Customers can easily access Western Union services by entering their Money Transfer Control Number (MTCN) on the MoMo app and route funds to their bank accounts with MoMo's 50 partner banks. This move aligns with Western Union's Evolve 2025 strategy to enhance digital financial services and caters to the increasing demand for integrated financial solutions in Vietnam.
The Western Union Company (NYSE: WU) will present at the Wolfe FinTech Forum on Tuesday, March 14, 2023, at 4:00 p.m. Eastern Time. The presentation will feature insights from Devin McGranahan, President and CEO, and Matt Cagwin, CFO. Interested investors can access the webcast via www.westernunion.com in the investor relations section, with an archived version available shortly after the event. Western Union focuses on providing financial services across over 200 countries and territories, aiming to enhance the financial futures of individuals and communities.
Western Union (NYSE: WU) has expanded its pilot program for money transfer services to Cuba, now covering over 4,400 retail locations across the U.S. and Puerto Rico. The initiative, which began on January 4, allows customers to send money electronically to accounts at three major Cuban banks: Banco Popular de Ahorro, Banco Metropolitano S.A., and Banco de Credito y Comercio. Funds can be received in U.S. dollars, with transactions processed via an agreement with Orbit S.A. This expansion marks a significant enhancement in Western Union's service offering, aimed at facilitating financial transfers to Cuba.
Western Union has announced a groundbreaking collaboration with Beforepay, enabling Australian consumers to enhance their international money transfers by borrowing up to AUD 2000. This innovative 'Send Now, Pay Later' option allows customers to supplement their remittances through Beforepay's wage-advance product, accessible via Western Union's digital platforms. Research indicates that 44% of Australians desire this payment flexibility. This partnership reflects both companies' commitment to providing accessible financial services, aligning with Western Union’s 'Evolve 2025' strategy, which aims to combine valuable retail and digital financial solutions.
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