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WESTERN UNION (WU)
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Western Union : Digital Service Live in 40 Countries

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05/18/2017 | 06:04pm CEST

By a News Reporter-Staff News Editor at China Weekly News -- The Western Union Company (NYSE: WU), a leader in global payments, announced that it has further strengthened its global digital money transfer footprint, with the activation of its 40th wu.com transactional website, now providing full digital access for cross-border person-to-person (P2P) money transfer services across major developed nations including the US, Canada and major parts of Europe*.

Wu.com is also active in Australia, New Zealand, Hong Kong and the United Arab Emirates. Western Union plans to continue to expand its digital presence across Asia Pacific, the Middle East and Latin America and the Caribbean in the next phase of its online expansion, augmenting the company's retail Agent footprint in more than 200 countries and territories.

"The continuous advancement of our digital innovation over the past several years allows us to stay ahead of the needs of the modern money mover, and we are serving them across a multitude of currencies, languages and borders," said Odilon Almeida, President of Western Union Global Money Transfer. "Our customers want different options to send and receive money around the globe, and our ability to bridge their digital and physical worlds - whether it is bank-to-bank, through web, app to cash or cash to cash - through our fast, reliable and convenient digital and retail cross-border money transfer platform, is Western Union's key differentiator."

According to the World Bank, while more than 75 percent of cross-border P2P transfers are sent into developing countries, people send money from nearly every country in the world. Western Union's digital expansion provides further choice not only to consumers who may have migrated and are working and living in their host countries, but also to a new generation of consumers who live in their home countries and need to move money in an increasingly globalized world. These consumers send money for a variety of reasons, such as their child's international college tuition, to scale up their small business, to fund travel and tourism, to buy goods and services, or for gifting purposes.

Digital-initiated money transfer remains a high growth area and is expected to be the major driver of overall market growth in the coming years. With over $340 million of westernunion.com money transfer revenue in 2016, Western Union is well poised to continue to meet the increasing consumer demand.

In Q1 2017, more than 60 percent of wu.com transactions were initiated on a mobile device. This digital ramp-up follows the recent launches of Apple Pay as a funding method for digital users in the U.S., and Western Union's money transfer bot for Messenger, which enables users in the U.S. to make international money transfers without leaving the Messenger app.

For more information, visit the Western Union newsroom at www.westernunion.com/news. (*) WU.com is live in the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Kingdom, Canada, United States, Australia, New Zealand, Hong Kong, United Arab Emirates.

WU-G About Western Union The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of March 31, 2017, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 550,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2016, The Western Union Company completed 268 million consumer-to-consumer transactions worldwide, moving $80 billion of principal between consumers, and 523 million business payments. For more information, visit www.westernunion.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20170510005465/en/

Keywords for this news article include: Asia, China, Hong Kong, The Western Union Company.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Geographic Newsletters

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Financials ($)
Sales 2018 5 711 M
EBIT 2018 1 123 M
Net income 2018 824 M
Debt 2018 -
Yield 2018 3,91%
P/E ratio 2018 10,31
P/E ratio 2019 9,80
Capi. / Sales 2018 1,54x
Capi. / Sales 2019 1,50x
Capitalization 8 788 M
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Hikmet Ersek President, Chief Executive Officer & Director
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