In ‘Western Union Looks Beyond Remittances’
Western Union had muted success in Q3 2021, reporting 2% overall revenue growth year-on-year, with C2C revenues flat and a 1% decline in transactions. However, the company did see a 4% increase in C2C principal and a 15% overall increase in its digital business.
Against this mixed backdrop, Western Union also launched a number of key initiatives beyond its core remittance offering, aimed at providing additional financial services to its customers, namely WU Plus and WU Shop.
Given the landscape the company finds itself in, how does it see these products contributing to its overall strategy, and does it see a threat from cryptocurrency? Daniel Webber spoke to Western Union CFO Raj Agrawal to find out.
- Headwinds to revenue growth
- WU’s digital business
- Growth in account-to-account transfers
- Facebook’s Novi and cryptocurrencies in remittances
- Western Union’s real-time network
- Western Union’s multicurrency account WU Plus
- The launch of WU shop