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Western Union’s Consumer Refocus: CFO Raj Agrawal in Conversation with Daniel Webber

Western Union’s Q2 2021 results included the announcement that the company was selling Western Union Business Solutions and refocusing on cross-border consumer payments. Download my conversation with CFO Raj Agrawal to find out more.

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In Western Union’s Consumer Refocus

Western Union reported 16% revenue growth in Q2 2021, but the headlines were focused on its sale of Western Union Business Solutions for $910m and its resulting refocus on the cross-border consumer payments market.

Digital is a key part of this, with digital money transfers hitting a new high of $265m quarterly revenue – a 22% increase on Q2 2020 – and projected 2021 digital revenue of over $1bn. However, the company is also looking beyond remittances, with the launch of a Western Union-branded multi currency bank account, debit card and integrated money transfer solution, which will be piloted in a number of European countries later in 2021.

With this in mind, what is Western Union’s stratefy following the sale of its Business Solutions division? Daniel Webber spoke to Western Union CFO Raj Agrawal to find out more.

Topics covered:

  • The sale of Western Union Business Solutions
  • Market strategy: direct versus white label
  • Western Union’s multicurrency bank account
  • The shift to digital
  • Finding growth in retail
  • Pricing trends
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