Western Union Expands Network of Concept Stores and Company-owned Hubs across Europe

Rhea-AI Summary

Western Union (WU) continues to expand its network of concept stores and company-owned hubs in Europe, having now inaugurated 100 locations across the Continent. This forms part of the company's global retail strategy, aiming to offer customers enhanced service and, ultimately, enable them to enjoy an omni-channel experience. The network represents an investment by Western Union in its retail presence in Europe, while supporting local micro-entrepreneurs and financial inclusion in migrant communities. It covers 13 European markets to date, including Spain, Italy, France, Germany, the United Kingdom and others. The company has plans to significantly expand the number of stores and hubs across Europe through 2025.

Positive

• Expansion of network of concept stores and company-owned hubs in Europe
• Investment in micro-entrepreneurship and financial inclusion
• Enhanced service and omni-channel experience for customers

Negative

• None.

• Company continues to invest in retail network optimization, micro-entrepreneurship and financial inclusion.
• The new network of 100 locations offers a premium experience to Western Union's customers.

LONDON, Dec. 6, 2023 /PRNewswire/ -- Western Union, a leader in cross-border money movement, continues to expand its network of concept stores and company-owned hubs in Europe, having now inaugurated 100 locations across the Continent. This forms part of the company's global retail strategy, aiming to offer customers enhanced service and, ultimately, enable them to enjoy an omni-channel experience.

The network represents an investment by Western Union in its retail presence in Europe, while supporting local micro-entrepreneurs and financial inclusion in migrant communities. It covers 13 European markets to date, including Spain, Italy, France, Germany, the United Kingdom and others. The company has plans to significantly expand the number of stores and hubs across Europe through 2025.

Concept stores and hubs represent a new retail offering, where customers can not only make international money transfers, but also benefit from premium brand experience and level of service. Giovanni Angelini, President, Europe and Africa for Western Union, explained: "I am greatly pleased that more and more of Western Union's concept stores and hubs appear across Europe's streets and transport hubs. This is a vote of confidence in Europe's retail sector, which has been challenged significantly since the pandemic."

"This network is a new way for us to re-invent and evolve our retail presence, by putting our customers, and their needs, at the very center of our work. At the same time, it provides an opportunity to trial new products and services, as we aim to become a one-stop shop for all our customers' financial needs," continued Angelini.

Investment in micro-entrepreneurship and financial inclusion

With the new network of concept stores, the company recognizes the loyalty of long-standing partners by offering them the possibility of opening these exclusive Western Union locations, where the company offers faster, easier and simpler access to its services.

This relationship represents a tangible investment in micro-entrepreneurship, as well as financial inclusion, allowing these retail entrepreneurs to have a new, elevated role in their communities, usually comprised of migrants, and expand their business. Concept store partners enjoy an enhanced relationship with Western Union and additional support.

About Western Union

The Western Union Company (NYSE: WU) is committed to helping people around the world who aspire to build financial futures for themselves, their loved ones and their communities. Our leading cross-border, cross-currency money movement, payments and digital financial services empower consumers, businesses, financial institutions and governments - across more than 200 countries and territories and nearly 130 currencies - to connect with billions of bank accounts, millions of digital wallets and cards, and a global footprint of hundreds of thousands of retail locations. Our goal is to offer accessible financial services that help people and communities prosper. For more information, visit www.westernunion.com.

View original content:https://www.prnewswire.com/news-releases/western-union-expands-network-of-concept-stores-and-company-owned-hubs-across-europe-302006637.html

SOURCE Western Union

FAQ

What is Western Union's ticker symbol?

Western Union's ticker symbol is WU.

How many concept stores and company-owned hubs has Western Union inaugurated in Europe?

Western Union has now inaugurated 100 locations across Europe.

In how many European markets does the network of concept stores and company-owned hubs cover?

The network covers 13 European markets to date.

What is the company's global retail strategy?

The company's global retail strategy aims to offer customers enhanced service and enable them to enjoy an omni-channel experience.

What does the new network of concept stores offer to customers?

Customers can not only make international money transfers, but also benefit from a premium brand experience and level of service.

What does the investment in micro-entrepreneurship and financial inclusion entail?

The company recognizes the loyalty of long-standing partners by offering them the possibility of opening exclusive Western Union locations, where the company offers faster, easier and simpler access to its services, supporting local micro-entrepreneurs and financial inclusion in migrant communities.

Who is the President, Europe and Africa for Western Union?

Giovanni Angelini is the President, Europe and Africa for Western Union.