Around the World With Western Union

Monday 7 February 2005 04:08 CET | News

Western Union Financial Services, a subsidiary of First Data, recorded a number of significant accomplishments in its global expansion efforts in 2004.

Western Union aims to ensure that each day, in every corner of the globe, millions of people and businesses can quickly, easily and reliably transfer money worldwide. More Locations, More Convenience: We are where our customers work, shop and live With a focus on creating additional convenience for consumers, Western Union and its subsidiary Orlandi Valuta added approximately 37,000 Agent locations in 2004, bringing its total number of Agent locations today to more than 220,000 in more than 195 counties and territories. In India alone, more than 6,000 Agent locations were added, ensuring that recipients throughout India will find a Western Union Agent location convenient to them. The effectiveness of this Agent expansion strategy is illustrated by high transaction growth rates. For the first time, China and India each generated more than a million transactions, with combined transaction growth of 86 percent. New Services: Changing to meet the needs of an evolving world community As world communities change, so does Western Union. Until recently consumers in Mexico could only receive Western Union Money Transfers from their loved ones living around the world. However, as Mexican economic conditions continue to improve, Western Union recognized the need for Mexican consumers to send transactions as well. In late 2004, Western Union launched its outbound service from Mexico and has seen significant transaction growth, including nearly 13,000 outbound money transfers in December. With the adoption of the Euro among countries in the European Union, Western Union began to see a demand for Euro payout in a number of locations in neighboring countries. In 2004, Western Union added Albania, Romania and Moldova to the growing list of countries offering payment of Western Union money transfers in Euro. Emigration trends within the European Union and the introduction of the Euro currency have created a new opportunity for Western Union to improve its service for consumers. Western Union has expanded the distribution of its Gold Card loyalty program. With the ability to shorten transaction time while providing incentives to customers, the Western Union Gold Card is yet another way to recognize and reward customers. In 2004, Western Union distributed more than half a million Gold Cards in the Latin America/Caribbean region and introduced the program to such diverse countries as Kenya and Belgium. Finally, recognizing the expansion and global acceptance of online financial transactions, Western Union launched its first Web site outside of North America in the UK. United Kingdom consumers now can send money around the world from the comfort of their own home using Western Union plans to continue the international expansion of its online offerings and expects to add more countries over the next five years. With significant accomplishments in virtually every corner of the world, Western Union maintains its position as a leader in providing valuable financial services to consumers. As Western Union continues its strategic expansion, consumers can be assured that the company will continue to focus on its core service values: speed, reliability and convenience.

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Categories: Payments & Commerce | Payments General
Countries: World
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