Western Union Company WU

The Western Union Company (Western Union), incorporated on February 17, 2006, is a provider of money movement and payment services. The Company operates through two segments: Consumer-to-Consumer and Business Solutions. Western Union's Consumer-to-Consumer segment is engaged in individual money transfers from one consumer to another. Western Union's Business Solutions segment facilitates payment and foreign exchange solutions, primarily cross-border, cross-currency transactions, for small and medium size enterprises and other organizations and individuals.

Consumer-to-Consumer Segment

The Company's Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents. The Company's multi-currency, real-time money transfer service is viewed by the Company as one interconnected network where a money transfer can be sent from one location to another, around the world. The Company's money transfer services are available for international cross-border transfers, which is the transfer of funds from one country to another and in certain countries intra-country transfers that is, money transfers from one location to another in the same country. This segment also includes money transfer transactions that can be initiated through Websites and mobile devices. The Company offers money transfer services with various options for sending funds, through both its walk-in and online money transfer channels. It offers Walk-in money transfer and online money transfer. The Company provides its third-party agents with access to its multi-currency, real-time money transfer processing systems used to originate and pay money transfers. The Company's systems and processes enable its agents to pay money transfers in approximately 130 currencies across the world. The Company's marketing strategy includes its consumer programs, such as My WUSM and Gold Card, which are available in many countries and territories. These programs offer consumers service at the point-of-sale.

Business Solutions Segment

The Company's Business Solutions payment transactions are conducted through various channels, including the phone and via the Internet. The Company’s Business Solutions facilitate payment and foreign exchange solutions, primarily cross-border, cross-currency transactions, for small and medium size enterprises and other organizations and individuals. The majority of Business Solutions' business relates to exchanges of currency at spot rates, which enable customers to make cross-currency payments. For certain industries such as educational institutions, financial institutions, and law firms, it provides tailored payment solutions. In addition, in certain countries, it writes foreign currency forward and option contracts for customers to facilitate future payments, which usually generate higher revenue per transaction than spot payments. Its Internet services are marketed through its own Websites, as well as, from time to time, co-branding arrangements with Website partners.