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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 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.
Western Union (NYSE: WU) and Regions Bank (NYSE: RF) have extended their partnership for five more years, enabling consumers to send and receive money at over 1,250 U.S. Regions Bank locations. This renewal allows both Regions' customers and non-customers to access global money transfer and expedited bill payment services. Since 2011, over $1 billion has been transferred via this collaboration. The companies emphasize their commitment to financial inclusion and accessibility to banking services, enhancing convenience for consumers across their networks.
The Western Union Company reported Q4 2022 revenue of $1.1 billion, down 15% year-over-year. GAAP EPS increased to $0.65, a 55% rise, while adjusted EPS dropped 50% to $0.32. The decline in revenue was impacted by a 3% reduction due to operations suspension in Russia and Belarus. The company returned over $700 million to shareholders in 2022 and announced a quarterly dividend of $0.235. Notably, there was a 30% growth in U.S. outbound branded digital customers. For the full year, revenue was $4.5 billion, reflecting a 12% decrease. The outlook for 2023 indicates potential revenue declines of 9% to 7%.
Western Union (NYSE: WU) has appointed Matthew Cagwin as Chief Financial Officer, effective January 20, 2023. Cagwin previously served as the interim CFO since September 2022. With extensive experience in finance and a background in payments, he joined Western Union in July 2022 as Head of Financial Planning and Analysis. Cagwin has held senior roles at Fiserv and Coca-Cola Enterprises. His leadership comes at a critical time as the company aims to execute its ‘Evolve 2025’ strategy and drive sustainable value creation.
The Western Union Company (NYSE: WU) will host a webcast and conference call on February 7, 2023, at 4:30 p.m. ET, to discuss its fourth quarter and full year 2022 results. The company's press release detailing the financial results will be issued at approximately 4:05 p.m. ET on the same day. Interested parties can access the webcast and register prior to the event. The company is a leader in cross-border, cross-currency money movement and payments, connecting consumers, businesses, and governments across more than 200 countries and territories through a vast financial network.
The Western Union Company (NYSE: WU) has declared a quarterly cash dividend of $0.235 per common share, scheduled for payment on December 30, 2022. Stockholders must be on record by the close of business on December 19, 2022. Western Union is renowned for its leadership in cross-border and cross-currency money transfers, linking over 200 countries. This dividend announcement signifies the company's commitment to returning value to shareholders during its operations in the global financial network.
The Western Union Company (NYSE: WU) announced that Devin McGranahan, CEO, and Matt Cagwin, Interim CFO, will present at the Credit Suisse Technology Conference on November 30, 2022, starting at 1:40 p.m. MST. The presentation is expected to last about 30 minutes. Investors can access the live webcast through the investor relations section of Western Union's website, with an archived version available post-presentation.
Western Union is a leader in cross-border money transfers, connecting consumers and businesses in over 200 countries with a vast financial network.
Western Union (NYSE: WU) and Walgreens (NASDAQ: WBA) announced a renewed five-year agreement, allowing customers to access Western Union's Money Transfer and bill payment services at approximately 9,000 Walgreens locations across the U.S. This partnership reflects both companies' commitment to delivering convenient financial services. Western Union's global network enables fast money transfers, enhancing customer engagement. The collaboration highlights Western Union's ongoing investment in expanding its omni-channel product offerings to meet diverse consumer financial needs.