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The Western Union Company – Business Description

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The Western Union Company (Western Union) is engaged in transferring money around the world, as well as send payments and purchase money orders.The company’s services are available through a network of over 335,000 agent locations in more than 200 countries and territories.

The company operates through two business segments: consumer-to-consumer and consumer-to-business.

Western Union’s consumer-to-consumer segment provides money transfer services between consumers, primarily through a global network of third-party agents using its multicurrency, real-time money transfer processing systems in the same country.

Western Union’s consumer-to-business segment focuses on payments from consumers to businesses and other organizations that receive consumer payments, including utilities, auto finance companies, mortgage services, financial service providers and government agencies, through the company’s network of third-party agents and various electronic channels.

The company also sells Western Union branded money orders, issued by Integrated Payment Systems (IPS), to consumers at non-bank retail locations primarily in the US and Canada. Western Union also offers prepaid services consisting of a Western Union branded prepaid card (issued by a third party), and third-party top-up services. The Western Union branded prepaid card is sold through its agent network primarily in the US and also through the internet. In addition to debit cards, Western Union enables consumers to pre-pay for mobile phones, internet access and other services.

The company also also offers money transfer services under the Orlandi Valuta and Vigo brands; and and various bill payment services primarily in the US under brands Speedpay, Equity Accelerator, Just in Time EFT, Western Union Quick Collect, Western Union Convenience Pay, and in Argentina under Pago Facil SM brand.