Worldwide Money Transfer Leader Marks Significant '04 Accomplishments
DENVER, Feb. 1 /PRNewswire/ -- Proving yet again that it deserves its
reputation as a leader in worldwide money transfer services, Western Union
Financial Services, Inc., a subsidiary of First Data Corp. (NYSE: FDC),
recorded a number of significant accomplishments in its global expansion
efforts in 2004. Western Union aims to ensure that each day, in every corner
of the globe, millions of people and businesses can quickly, easily and
reliably transfer money worldwide.
More Locations, More Convenience: We are where our customers work, shop
and live
With a focus on creating additional convenience for consumers, Western
Union and its subsidiary Orlandi Valuta added approximately 37,000 Agent
locations in 2004, bringing its total number of Agent locations today to more
than 220,000 in more than 195 counties and territories. In India alone, more
than 6,000 Agent locations were added, ensuring that recipients throughout
India will find a Western Union Agent location convenient to them. The
effectiveness of this Agent expansion strategy is illustrated by high
transaction growth rates. For the first time, China and India each generated
more than a million transactions, with combined transaction growth of
86 percent.
In August, Western Union celebrated the opening of its 200,000th Agent
location in Athens, Greece. "Reaching 200,000 Agent locations was a
significant milestone for us," said Christina Gold, president, Western Union
Financial Services, Inc. "It demonstrates our commitment to be where our
customers are. We've focused on adding locations in ethnic neighborhoods to
serve the growing population of immigrants around the world. We take pride in
teaming with some of the most well respected businesses in every country we
serve. Banks and postal organizations continue to make-up the majority of our
international network, and they also remain the focus of our international
expansion plans."
New Services: Changing to meet the needs of an evolving world community
As world communities change, so does Western Union. Until recently
consumers in Mexico could only receive Western Union Money Transfers from
their loved ones living around the world. However, as Mexican economic
conditions continue to improve, Western Union recognized the need for Mexican
consumers to send transactions as well. In late 2004, Western Union launched
its outbound service from Mexico and has seen significant transaction growth,
including nearly 13,000 outbound money transfers in December.
With the adoption of the Euro among countries in the European Union,
Western Union began to see a demand for Euro payout in a number of locations
in neighboring countries. In 2004, Western Union added Albania, Romania and
Moldova to the growing list of countries offering payment of Western Union
money transfers in Euro. Emigration trends within the European Union and the
introduction of the Euro currency have created a new opportunity for Western
Union to improve its service for consumers.
Western Union has expanded the distribution of its Gold Card loyalty
program. With the ability to shorten transaction time while providing
incentives to customers, the Western Union Gold Card is yet another way to
recognize and reward customers. In 2004, Western Union distributed more than
half a million Gold Cards in the Latin America/Caribbean region and introduced
the program to such diverse countries as Kenya and Belgium.
Finally, recognizing the expansion and global acceptance of online
financial transactions, Western Union launched its first Web site outside of
North America in the UK. United Kingdom consumers now can send money around
the world from the comfort of their own home using westernunion.co.uk.
Western Union plans to continue the international expansion of its online
offerings and expects to add more countries over the next five years.
With significant accomplishments in virtually every corner of the world,
Western Union maintains its position as a leader in providing valuable
financial services to consumers. As Western Union continues its strategic
expansion, consumers can be assured that the company will continue to focus on
its core service values: speed, reliability and convenience.
About Western Union Financial Services, Inc. and First Data
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE: FDC), is an international leader in consumer money transfer services.
Consumers can quickly and reliably pay bills and transfer money around the
globe using the company's proprietary money transfer network. Western Union
and its subsidiary, Orlandi Valuta, together make up one of the world's
largest money transfer networks with approximately 220,000 Agent locations in
more than 195 countries and territories. Famous for its pioneering telegraph
service, the original Western Union dates back to 1851 and introduced
electronic money transfer service in 1871. For more information, please visit
the company's Web site at http://www.westernunion.com.
First Data Corp., with global headquarters in Denver, helps power the
global economy. Serving approximately 4.1 million merchant locations,
1,400 card issuers and millions of consumers, First Data makes it easy, fast
and secure for people and businesses to buy goods and services, using
virtually any form of payment: credit, debit, smart card, stored-value card or
check at the point-of-sale, over the Internet or by money transfer. For more
information, please visit the company's Web site at http://www.firstdata.com.
FDC-1
SOURCE Western Union Financial Services, Inc.; First Data Corp.
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Related links:
http://www.westernunion.com
CONTACT:
Nancy Etheredge, +1-402-222-6214,
nancy.etheredge@firstdatacorp.com, or Sherry Johnson,
+1-303-967-8348, sherry.johnson@firstdatacorp.com, both for
Western Union Financial Services, Inc.
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