Western Union has reported its Q2 2026 results, seeing overall revenue decline 1% YoY to $1bn, while Consumer Money Transfer (CMT) revenue fell 2% to $866.1m.

A bar chart showing Western Union's cross-border principal with a secondary line axis showing the number of transactions for its Consumer Money Transfer segment, Q1 2022-Q2 2026

Western Union’s cross-border principal – the total money sent in cross-border transactions – increased 2% YoY to $27.2m, while CMT transactions grew 3% to 73.5 million in Q2. 

Western Union saw its continuing digital transformation efforts rewarded as branded digital revenues increased 7% YoY and branded digital transactions rose 25%. This represented 32% of CMT revenues and 43% of CMT transactions. Consumer Services revenue – including the company’s travel money, online bill payments, insurance and prepaid cards – slowed, rising 4% YoY to $147.1m. This comes as Western Union continues to increase the share of revenue generated by Digital and Consumer Services to reduce reliance on retail remittances. 

CFO Matthew Cagwin noted that US immigration policy weighed on the business’ results, with the company seeing North America’s share of remittance revenues fall from 39% to 36% from Q2 2025 to Q2 2026. Meanwhile, Asia-Pacific (APAC) was the only other region to see its share decline, falling from 6% to 5%.

A stacked bar chart showing Western Union's Consumer Money Transfer segment revenue split by region (orange for Asia-Pacific, light grey for Latin America and the Caribbean, purple for the Middle East, Africa and South Asia, dark grey for the EU & Commonwealth of Independent States and dark blue for North America, Q1 2023-Q2 2026, with Q2 2026 year-on-year revenue growth for each region listed to the right

In comparison, the Middle East, Africa and South Asia (MEASA) took a 3% higher share of remittance revenues, accounting for 18%. Europe and the Commonwealth of Independent States (EU & CIS) revenue grew its respective share from 29% to 30%. Latin America and the Caribbean’s revenue share remained flat at 11%. 

CEO and President Devin McGranahan explained that the continuing slowdown in Western Union’s Americas business fell below previous expectations in Q2, leading to increased margin pressure. Despite this, the money transfer giant saw these headwinds mostly offset by its geographic diversification efforts. 

Western Union once again used the earnings call as an opportunity to outline its digital asset strategy progress. Having launched USDPT, its own USD-pegged stablecoin, in May, the company announced the launch of its new USDPT Stablecard. The offering will enable customers to hold, spend and transfer the stablecoin to bolster its remittance offering. 

In response to the headwinds experienced in Q2, Western Union updated its full-year 2026 guidance and now expects 4-6% adjusted revenue growth, down from the 6-9% range it set in Q1. McGranahan noted that while the company was “disappointed” with its Q2 results, it remains confident that its digital initiatives can support a turnaround in the future.