DENVER, Oct. 27 /PRNewswire/ -- Western Union Financial Services, Inc.
today announced that it has been granted a banking license by
Finanzmarktaufsicht Behorde (FMA), the Austrian Financial Market Authority.
The license will allow Western Union to expand the range of products and
services that it offers to European consumers. Initially, Western Union,
together with the Western Union agents, will focus on expanding the company's
core money transfer business, both at retail locations and
on-line. The license provides an opportunity to represent agents and the
Western Union business within the European financial services community.
"The banking license is a milestone in expanding our distribution channels
globally," said Christina Gold, president, Western Union Financial Services,
Inc., a wholly owned subsidiary of First Data Corp. (NYSE: FDC). "This
unlocks a potential for significant growth for Western Union and helps ensure
that we are poised for future expansion."
The license expands growth opportunities for Western Union within Europe
by providing access to on-line payment solutions and the opportunity to
develop new products and services within an increasingly regulated
marketplace.
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 202,000 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 3.5 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.
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Related links:
http://www.westernunion.com
CONTACT:
Sherry Johnson, +1-303-967-8348,
sherry.l.johnson@firstdatacorp.com, or Steve Fairbairn, +00 44
207 878 3158, steven.fairbairn@mslpr.co.uk, both for Western
Union Financial Services, Inc.
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