Western Union

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Overview

Western Union is NYSE: WU + US-based global money transfer + remittance operator + retail agent network + world's largest money transfer + remittance network by transaction volume + retail agents 550,000+ across 200+ countries + ~150M+ annual Western Union customers worldwide [1, us-cro].

History

Apr 1851 — New York and Mississippi Valley Printing Telegraph Company founded distinctive US telegraph + money transfer heritage.

1856 — Renamed Western Union Telegraph Company.

1871 — Western Union introduces first wire money transfer service distinctive US money transfer founding.

Sep 29 2006 — Western Union spun off from First Data Corporation as standalone NYSE-listed company.

2010 — Western Union Send Money mobile app launch.

Ownership & operator

Operating entity: Western Union Company (US-based global money transfer + remittance operator + retail agent network; NYSE: WU).

Major shareholders: US + international retail + institutional + foreign investors free float (no major controlling shareholder).

Regulators: FinCEN + Federal Reserve + state regulators + national regulators across 200+ countries.

Technical integration

Western Union Send Money mobile app (iOS + Android; ~150M+ annual Western Union customers worldwide) + westernunion.com online + Western Union retail agent network 550,000+ retail agents in 200+ countries + Western Union Visa + Mastercard cards; ACH + SWIFT + FedNow + cash-based money transfer + remittance + bank account transfers + mobile wallet transfers.

Implementations & partners

Major US-based + global money transfer + remittance competitors: [[moneygram]] (MoneyGram International; US-based global money transfer + remittance operator + retail agent network; ~50M+ annual MoneyGram customers worldwide; Madison Dearborn Partners private equity controlling post-Jun 2023 ~$1.8B take-private acquisition) + [[ria-money-transfer]] (Ria Money Transfer; Euronet Worldwide NASDAQ: EEFT US-based subsidiary global money transfer + remittance) + [[remitly]] (Remitly; NASDAQ: RELY; US-based mobile-first global money transfer + remittance) + [[worldremit]] (WorldRemit Zepz; UK-based mobile-first global money transfer + remittance) + [[wise]] (Wise; UK + global multi-currency account + cross-border transfers) + [[xoom]] (Xoom PayPal-owned US-based global money transfer + remittance) + [[paypal-app]] (PayPal; NASDAQ: PYPL; US-based global digital payment platform + Xoom + Honey + Venmo parent) + [[venmo-app]] (Venmo; PayPal-owned US-based P2P mobile wallet) + [[cashapp]] (Cash App; Block NYSE: SQ US-based P2P mobile wallet) + [[zelle]] (Zelle; Early Warning Services LLC US bank consortium P2P payment network; ~125M+ US users).

Regulators: FinCEN + Federal Reserve + state regulators + national regulators across 200+ countries.

Status

Active, NYSE:WU + US-based global money transfer + remittance operator + retail agent network + world's largest money transfer + remittance network by transaction volume + retail agents 550,000+ across 200+ countries + ~150M+ annual Western Union customers worldwide [1, 2].

Sources

1 Western Union — official
2 Western Union — Wikipedia
us-cro In-corpus: reports/countries/US-united-states.md

Source

Biography extracted from western-union.md. See matrix.md for standards-support matrix if present.