The Western Union Company (NYSE: WU)

The Western Union Company (NYSE: WU) is a global leader in cross-border money movement, payments, and digital financial services. With a commitment to empowering individuals, businesses, financial institutions, and governments worldwide, Western Union facilitates seamless transactions across more than 200 countries and territories, supporting over 130 currencies. The company’s extensive network connects billions of bank accounts, millions of digital wallets and cards, and a vast global footprint comprising hundreds of thousands of retail locations.

Western Union’s mission revolves around helping people achieve their financial aspirations for themselves, their families, and their communities. By providing accessible financial services, Western Union plays a vital role in fostering prosperity on a global scale. The company’s dedication to facilitating cross-border, cross-currency money movement aligns with the evolving demands of the digital era, offering individuals and organizations efficient and reliable ways to connect financially.

Western Union is headquartered in Denver, Colorado.

Products and Services

Western Union offers a comprehensive suite of products and services tailored to meet the diverse needs of consumers, businesses, financial institutions, and governments. For consumers, Western Union provides a range of options for sending and receiving money, including cash pickup, bank transfers, and digital channels. The company’s digital platform and mobile app enable users to initiate transactions conveniently from their devices.

Businesses benefit from Western Union’s payment solutions, which allow them to streamline their cross-border transactions, manage international payments, and optimize currency exchange. Financial institutions rely on Western Union’s expertise to enhance their customer services, facilitate global payments, and expand their reach.
Western Union’s services also extend to government agencies seeking secure and efficient disbursement solutions for social benefits, pensions, and other payments.

Market Opportunity

Western Union operates in an industry undergoing significant transformation, with digitalization driving the demand for fast, secure, and accessible cross-border money movement. The rise of e-commerce, globalization of businesses, and the need for financial inclusion have further accelerated the adoption of digital financial services.

As an established and trusted leader in the field, Western Union is well-positioned to capitalize on this market opportunity. The company’s expansive network, diverse product offerings, and commitment to financial inclusion position it favorably in an evolving landscape. By addressing the evolving needs of consumers, businesses, and governments, Western Union remains at the forefront of shaping the future of cross-border financial transactions.

Management Team

Devin McGranahan is the President, CEO, and Director of The Western Union Company, a global leader in cross-border, cross-currency money movement. With over 25 years of business and leadership experience, Mr. McGranahan assumed the role of CEO at Western Union in late 2021. Previously, he held the position of Senior Group President, Global Business Solutions at Fiserv, Inc., overseeing the company’s global merchant acquiring and processing businesses. His tenure was marked by significant achievements, including the launch of the Carat enterprise merchant omni-commerce platform and the growth of Clover Business Solutions, Fiserv’s digital-direct merchant platform, into the largest cloud-based SMB merchant platform in the market, with over $1 billion in revenue.

Matt Cagwin serves as the CFO of Western Union, responsible for leading the company’s global finance organization, including financial reporting, financial planning and analysis, tax, treasury, and investor relations. As a member of the Executive Team, he also provides guidance on the Company’s operations and strategic direction. Before joining Western Union, Mr. Cagwin served as Senior Vice President, Chief Financial Officer—Merchant Acceptance of Fiserv, Inc./First Data Corp. from 2018 to May 2022 and as Senior Vice President, Corporate Controller, and Chief Accounting Officer of First Data from 2014 to 2019.