Western Union, a leader in cross-border and cross-currency money movement, has expanded its digital money transfer services, the fastest-growing part of its business in 2019, to over 75 countries, and payout into a global network of four billion accounts and wallets across 100 countries, in addition to a vast agent retail network in 200 countries and territories.
Western Union’s digital global expansion has been a strategic pillar for years, and today is available across every continent of the world. The Company’s digital services purposefully capture all the top 20 of the world’s primary remittance sending countries ranked by the World Bank. Equally, the Company’s global account and wallet payout network covers the world’s major remittance receive countries.
Western Union’s digital services has consistently delivered double-digit revenue growth over the last few years through 2019. Its combined send and receive digital scale set the standard for international money movement. The end-to-end digital payments experience is an advantage to customers providing an option for online services, following locally directed community restrictions and stay-at-home orders as a result of COVID-19.
Western Union has also been working with its agents, partners, and regulators across the world to continue to provide money transfer services as an essential service to communities during the current COVID-19 crisis. These efforts include easier onboarding or assisted services such as the recently announced ‘Digital locations’ available in select countries.
“Western Union’s strong balance sheet and financial position allows us to continue to expand our digital services to more people than ever before, in more parts of the world, including the world’s largest sending and receiving countries, especially during these challenging times,” said Western Union President and CEO Hikmet Ersek.