The Western Union Company is a global leader in cross-border and cross-currency money movement and payment services. The company's business model primarily revolves around its Consumer Money Transfer (CMT) segment, which accounts for approximately 90% of its total consolidated revenues. This segment facilitates money transfers between consumers globally, leveraging an extensive network of hundreds of thousands of agent locations across more than 200 countries and territories, as well as digital channels like branded websites and mobile applications. In addition to its core remittance business, Western Union operates a Consumer Services segment that provides bill payment services, money orders, retail foreign exchange, prepaid cards, and digital wallets. Historically, the company also operated a Business Solutions segment for cross-border business payments, but this was divested in 2023 to focus on consumer-centric financial services. Western Union's competitive position is underpinned by its globally recognized brand, expansive physical agent network, and growing digital footprint, which together provide unmatched reach and convenience for unbanked and underbanked populations, as well as expatriates sending money home.
