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Market
Today, most Americans take for granted the ability to move money by check, credit card, or debit card. Living without these conveniences is hard for some people to imagine, yet many individuals prefer to use cash. For these consumers, another less-noticed layer of financial service providers is hard at work: the money transfer service.
Money transfer services allow funds to be sent from one location to another without requiring a bank account. Money transfer is an easy way to provide financial assistance to loved ones and is often a preferred method for many immigrant workers sending money home to their families. The international remittance market continues to grow as more and more individuals leave their home countries in search of broader economic opportunities. In fact, according to a United Nations report from October 2002, more than 175 million immigrants live outside their country of origin.
Western Union, which introduced its money transfer service in 1871, remains a leader in the industry today. The Western Union Money TransferŽ service is a reliable method for connecting families, friends, and businesses around the world.
Western Union, along with its international subsidiary Orlandi Valuta, operates in more than 190 countries and territories through an extensive Agent network, including more than 170,000 Agent locations around the world in businesses such as supermarkets, convenience stores, banks, and post offices. From completing the first transcontinental telegram to providing fast and reliable ways for consumers and businesses to move money globally, Western Union has had a profound effect on communications and financial transactions around the world.
Headquartered in Denver, Colorado, as a subsidiary of First Data Corp., Western Union focuses on three main categories: money transfer, payment services, and prepaid services. |
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