What Western Union does

Western Union is a 175-year-old, publicly traded (NYSE: WU) cross-border money transfer company headquartered in Englewood, Colorado, that serves consumers and businesses in more than 200 countries and territories through a hybrid model combining a 600,000+ agent retail network, a digital app/web platform, mobile wallet and bank payout integrations, and emerging digital-asset rails. The company generates revenue primarily through per-transaction fees and foreign-exchange margins on consumer remittances (typically 3-8% above mid-market), with secondary streams from bill payments, prepaid Visa cards, B2B/corporate services (divested as Convera in 2022), travel money (via Eurochange), and emerging stablecoin-based settlement (USDPT). Technology infrastructure includes the proprietary MTCN tracking system, a Nutanix-based cloud platform migrated from VMware (~4,000 cores, 1,200 applications), and a Solana-based stablecoin (USDPT) issued by Anchorage Digital Bank, with Fireblocks as core wallet infrastructure and the Digital Asset Network linking crypto wallets to physical payout points. Western Union is executing a strategic pivot — branded internally as the 'Beyond strategy' — from a remittance provider into a broader consumer financial services platform via serial M&A (Dash, Lana, Eurochange, GMT, pending Intermex), digital wallet ownership across multiple geographies, and a USDPT stablecoin settlement layer targeting the 6-9% of transaction volume currently consumed by banking fees and prefunding costs.

Name

Western Union

Legal name

Western Union Holdings, Inc.

Website

https://westernunion.com

Company type

Public

Founded year

1851

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Western Union is a 175-year-old global cross-border money transfer company serving 150 million users across 200+ countries via 600,000+ agent locations, mobile wallets, and a new USDPT stablecoin settlement layer.

Ownership category

akta.pro rank

Product category

Cross-Border Money Transfer Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE)

akta.pro secondary industries

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD), Card-Based Cross-Border Payments & FX Settlement (FSAMAIAD)

Keywords

• Cross-border money transfer
• Consumer remittance services
• Foreign exchange payments
• Digital wallet payments
• Stablecoin settlement infrastructure

Headquarters

HQ city

Englewood

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales, Others

Revenue model

1. Money Transfer Transaction Fees: Western Union earns revenue from per-transaction fees charged to consumers and businesses for international money transfers, with fees varying by amount, destination, payment method, and delivery channel (online, app, in-person, bank deposit, mobile wallet, or cash pickup).
2. Foreign Exchange (FX) Margin: Western Union makes money from currency exchange by applying a margin on the exchange rate when converting sender's currency to receiver's currency, with differentials of 3-8% noted in some corridors.
3. Bill Payment Services: Revenue from bill pay services enabling customers to pay bills online through Western Union's platform.
4. Digital Wallet and Prepaid Card Services: Revenue from Western Union's prepaid Visa card products and digital wallet services (e.g., Dash in Singapore, Vigo), including card fees, transaction fees, and float income.
5. B2B / Corporate Payment Services (Convera): Revenue from B2B international vendor payments, FX hedging, payroll, and trade finance services for over 27,000 corporate customers worldwide, with customized pricing, monthly fees, per-transfer fees, and exchange rate margins of 0.3% to 2%.
6. Stablecoin and Digital Asset Revenue (USDPT): Emerging revenue stream from USDPT stablecoin, capturing float on reserves, transaction fees, and spread on cash conversion across 360,000 global cash-out locations, positioning Western Union as a full-stack stablecoin issuer.
7. Travel Money Services: Revenue from Travel Money business (currency exchange services), which expanded with the Eurochange acquisition and contributed to 24% Consumer Services segment revenue growth in Q1 2026.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels7 records

Core offering

Western Union is a global consumer money transfer business that enables individuals to send and receive money across 200+ countries and territories through cash pickup at 600,000+ agent locations, bank deposits, mobile wallet delivery, and a Western Union app/website. Revenue is generated primarily through per-transaction fees and foreign exchange (FX) margin on cross-border transfers, with complementary offerings including bill payments, prepaid Visa cards, foreign currency exchange (Travel Money), money orders, mobile top-ups, and an emerging USDPT stablecoin and Digital Asset Network that link crypto wallets to its physical payout infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Vigo Money by Western Union: Digital wallet product offered as a branded service line under Western Union (referenced in site legal terms).
• Stable by Western Union
• Western Union Rewards (My WU)
• Western Union Prepaid Visa Card

Products and services

• Cross-Border Money Transfer Service Western Union's core cross-border money transfer service enables individual consumers to send money internationally from 200+ countries to recipients in 200+ countries, with payout options including cash pickup at 600,000+ agent locations, direct bank deposits to 4 billion bank accounts, and mobile wallet delivery. Service is available via website, mobile app, and in-person at agent locations, with transparent upfront fee and exchange-rate disclosure and 10-digit MTCN tracking for every transfer.
• Bill Payment Services Online bill payment service enabling customers to pay bills through Western Union's platform via web and mobile app, contributing to the 24% Q1 2026 Consumer Services segment revenue growth. Customers can pay recurring and one-time bills from the Western Union app or website.
• Western Union Prepaid Visa Card Western Union-branded prepaid Visa card product available through WU Prepaid landing pages, generating revenue from card fees, transaction fees, and float income; users can preload funds and use the card for purchases and ATM withdrawals.
• USDPT Stablecoin USDPT is Western Union's US dollar-denominated payment stablecoin built on the Solana blockchain and issued by federally regulated Anchorage Digital Bank N.A., designed as an always-on (24/7) settlement asset between Western Union and its global agent network. It enables near-instant settlement across 360,000 payout points and supports crypto on- and off-ramp via integrations with exchanges such as Bybit, capturing revenue from float on reserves, transaction fees, and spread on cash conversion.
• Stable by Western Union Stable by Western Union is a consumer-facing spend capability built on top of the USDPT stablecoin, enabling consumers to hold and spend stablecoin value globally. Initial rollout covers Mexico, Argentina, Colombia, and the Philippines in June 2026, with planned expansion to 40+ countries.
• USD Stable Card USD Stable Card is a Western Union co-developed card product built with Rain and Visa that allows consumers to hold and spend stablecoin value globally, targeting dozens of markets including high-inflation countries like Argentina, with planned launch later in 2026.
• Digital Asset Network (DAN) Digital Asset Network (DAN) is Western Union's proprietary network linking crypto wallets to its 360,000 physical payout points across 200 countries, enabling digital-dollar flows to connect with its retail and cash infrastructure. First partner onboarded the same week of launch, enabling crypto-to-cash settlement that bypasses traditional wire transfer delays.
• Travel Money (Foreign Currency Exchange) Travel Money is Western Union's foreign currency exchange service for international travelers, providing convenient access to foreign cash before travel with competitive exchange rates. Expanded with the 2025 acquisition of Eurochange, contributing to 24% Consumer Services segment revenue growth in Q1 2026.
• Mobile Top-Up / International Mobile Reload Mobile top-up service that lets consumers send prepaid mobile minutes/credit to family members abroad, with partnerships including Globe in the Philippines and other mobile operators globally; available through the Western Union website, app, and agent network.
• Money Orders Western Union money orders are a traditional payment instrument enabling customers to send a guaranteed funds instrument domestically (and in select corridors), with a dedicated Money Order Refunds service for lost or stolen money orders.
• Dash Digital Wallet (Singapore) Dash is Western Union's Singapore-based digital wallet offering payments, remittances, savings, investments, and insurance to over 1.4 million users in Singapore. Acquired from Singtel in April 2026, it is Western Union's first proprietary digital wallet in the Asia-Pacific region.

Quantifiable outcome

• Digital money-transfer transactions increased 21% in Q1 2026, accounting for a growing share of revenue and transactions
• +6 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

AI capability3 records

Feature6 records

Partnerships

30 partnerships are on record, tiered core, flagship and minor.

• GMT (Israeli Fintech)coreTechnology or Integration · 16 June 2026Western Union agreed to acquire Israeli fintech company GMT for approximately $70 million (200 million shekels). The shares are being purchased from the Sarok and Tayer families, who will exit the company entirely upon completion. GMT employs 100 people and operates from Ramat HaHayal.
• BybitflagshipTechnology or Integration · 4 June 2026Bybit became the first major crypto exchange to join Western Union's global USDPT network. Users in selected Latin American markets can buy and sell USDPT stablecoin through Bybit's fiat channels. The integration creates a new on-and-off-ramp channel that reduces settlement time from days to minutes. Bybit and Western Union plan to expand digital asset utility beyond USDPT as part of a broader integration strategy.
• FireblockscoreTechnology or Integration · 4 May 2026Western Union selected Fireblocks to provide core infrastructure (wallet, settlement, and financial operations) for USDPT. The platform combines Fireblocks' infrastructure with Dynamic's embedded non-custodial wallets and TRES' financial reporting layer to enable stablecoin settlement across Western Union's global agent network.
• Anchorage Digital Bank, N.A.flagshipTechnology or Integration · 1 May 2026Anchorage Digital Bank serves as the regulated issuer of Western Union's USDPT stablecoin. Anchorage's Cashless Reserves model provides institutional stablecoin issuers with better liquidity, capital efficiency, and security. USDPT will serve as a settlement layer across Western Union's global network and power a consumer spend product.
• VPBank (Vietnam Prosperity Joint-Stock Commercial Bank)coreChannel Partner/ Reseller/ Distributor · 18 April 2026VPBank expanded its partnership with Western Union to introduce real-time remittance payout services to e-wallets and bank accounts in Vietnam, enhancing speed and convenience for retail customers receiving international remittances.
• SingtelcoreOEM/ Whitelabel/ Licensing Partner · 3 April 2026Western Union completed its acquisition of Dash, a Singapore-based digital wallet, from Singtel, expanding its digital financial services in the Asia-Pacific region. The deal grants Western Union control of a platform with over 1.4 million users, marking its first digital wallet presence in the APAC region.
• Solana FoundationflagshipStrategic or Co-development Partner · 1 January 2026Western Union built its USDPT stablecoin on the Solana blockchain as a settlement asset within its payment systems. Western Union joined the Solana Developer Platform as an early technology partner to enable stablecoin settlement and cross-border blockchain payments.
• CrossmintcoreTechnology or Integration · 1 January 2026Crossmint provides technical infrastructure for Western Union's USDPT stablecoin alongside Anchorage Digital Bank.
• VisaflagshipStrategic or Co-development Partner · 1 January 2026Western Union is building a USD Stable Card with Visa (and Rain) launching later in 2026 across dozens of markets, enabling consumers to hold and spend stablecoin value globally. Visa also selected Solana as one of eight blockchains for its global stablecoin settlement network, and Western Union's USDPT operates within this ecosystem.
• RaincoreTechnology or Integration · 1 January 2026Rain is partnering with Western Union and Visa to build the USD Stable Card launching later in 2026, targeting high-inflation countries like Argentina.
• MastercardflagshipStrategic or Co-development Partner · 1 January 2026Mastercard, Western Union, and Worldpay joined Solana's new developer platform as inaugural corporate adopters, exploring stablecoin settlement, cross-border payments, and merchant tokenized asset services.
• WorldpayflagshipStrategic or Co-development Partner · 1 January 2026Mastercard, Western Union, and Worldpay signed up as early adopters of the Solana Developer Suite, exploring stablecoin settlement, cross-border payments, and merchant tokenized asset services.
• GCash, Maya, BDO Unibank, BPI, Philippine National Bank, LBC, GoTyme Bank, RCBC, Security Bank (Philippines payout partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union's network of payout partners in the Philippines includes GCash, Maya, BDO Unibank, BPI, Philippine National Bank, LBC, GoTyme Bank, RCBC, Security Bank, Philippine Savings Bank, China Bank, East West Bank, BDO Network Bank, and SeaBank Philippines, with more than 21,000 agent locations across the country.
• Meezan Bank, HBL, UBL, Allied Bank, MCB Bank, Bank Alfalah, Bank Al Habib, Faysal Bank, Askari Bank, Standard Chartered, Easypaisa, Habib Metropolitan Bank (Pakistan payout partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union's network of payout partners in Pakistan includes Meezan Bank, HBL, UBL, Allied Bank, MCB Bank, Bank Alfalah, Bank Al Habib, Faysal Bank, Askari Bank, Standard Chartered, Easypaisa, and Habib Metropolitan Bank, with more than 13,000 agent locations throughout Pakistan.
• Bancolombia, Davivienda, Giros y Finanzas, Super Giros, Nequi, Coink, PayValida (Colombia payout partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union's network of payout partners in Colombia includes Bancolombia, Davivienda, Giros y Finanzas, Super Giros, Nequi, Coink, and PayValida, with more than 8,100 agent locations in Colombia.
• National Commercial Bank, Bank of Nova Scotia, First Caribbean International Bank, Jamaica National Bank, JMMB Bank (Jamaica payout partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union's network of payout partners in Jamaica includes National Commercial Bank, Bank of Nova Scotia, First Caribbean International Bank, Jamaica National Bank, and JMMB Bank, with more than 200 agent locations across Jamaica.
• MTN Mobile Money, Moov, Orange, EcoCash, Airtel, M-Pesa, Amole, CBE Birr, GizePay, HelloCash, Telebirr, Telecel, Equitel, Mvola, TNM Mpamba, Yas, Wave, Zamtel (Africa payout partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union's featured payout partners across Africa include MTN Mobile Money, Moov, Orange, EcoCash, Airtel, M-Pesa, Amole, CBE Birr, GizePay, HelloCash, Telebirr, Telecel, Equitel, Mvola, TNM Mpamba, Yas, Wave, and Zamtel, with more than 53,000 agent locations across Africa.
• Banco de Credito de Peru, Interbank, Yape, BBVA Continental, Scotiabank (Peru payout partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union's network of payout partners in Peru includes Banco de Credito de Peru, Interbank, Yape, BBVA Continental, and Scotiabank, with more than 1,500 agent locations dotted around Peru.
• First Bank of Nigeria, Ghana Commercial Bank, Ecobank, Zenith Bank, Agricultural Development Bank (Africa bank partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union enables direct transfers to major African banks including First Bank of Nigeria, Ghana Commercial Bank, Ecobank, Zenith Bank, and Agricultural Development Bank.
• Globe (Philippines mobile top-up partner)minorChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union partners with Globe in the Philippines to enable the purchase of prepaid mobile minutes for family members through international mobile reload.
• Lana (Mexico)coreOEM/ Whitelabel/ Licensing Partner · 1 January 2026Western Union completed the acquisition of Lana in Mexico during Q1 2026 to expand its digital wallet capabilities.
• Industrial & Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China (China bank partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union enables direct bank transfers to accounts held with major Chinese banks including Industrial & Commercial Bank, China Construction Bank, Agricultural Bank of China, and Bank of China, with more than 27,000 agent locations across China.
• Alipay (Ant Group), Weixin (China mobile wallet partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union partners with Alipay (Ant Group) and Weixin in China, enabling direct delivery to mobile wallets. Alipay partners with Western Union to facilitate the receipt of remittances in China powered by Alipay's technology.
• European bank and agent network partners (82,000+ locations)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union has more than 82,000 agent locations throughout Europe, including Spain, Switzerland, and the UK, plus more than 61,000 agent locations across the US to send money to Europe. Western Union works with major European banks to enable direct bank deposits.
• Bangkok Bank, Thanachart, Krung Thai Bank (Thailand bank partners)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Western Union enables bank account transfers in Thailand to banks including Bangkok Bank, Thanachart, and Krung Thai Bank, with more than 5,100 agent locations for cash pickup across Thailand.
• International Money Express (Intermex)flagshipStrategic or Co-development Partner · 1 August 2025Pending $500 million acquisition of Intermex, expected to close in Q2 2026 pending regulatory approvals (including New York State Department of Financial Services approval). Intermex serves 4.5 million users and holds 34% and 36% market share in US-to-Ecuador and US-to-Nicaragua corridors respectively. The deal is expected to be immediately accretive to adjusted EPS by more than $0.10 and deliver $30M in synergies at a 5x EBITDA multiple.
• Dash (Singapore Digital Wallet)coreOEM/ Whitelabel/ Licensing Partner · 1 January 2025Dash, originally owned by Singtel, was sold to Western Union and is now fully operated as Western Union's first digital wallet in the Asia-Pacific region. Dash's platform offers payments, remittances, savings, investments, and insurance to over 1.4 million users in Singapore.
• Western Union Payment Services Ireland (Dubai-based parent)coreOEM/ Whitelabel/ Licensing Partner · 1 January 2025Western Union Payment Services Ireland Limited is the Dublin-based Irish subsidiary of Western Union, which paid a $32 million dividend to its Dubai-based parent company in 2025 (up from $23 million in 2024). The Irish entity serves as a key regional operating entity.
• EurochangecoreOEM/ Whitelabel/ Licensing Partner · 1 January 2025Western Union acquired Eurochange, a UK-based currency exchange business. Eurochange expansion contributed to 24% Consumer Services segment revenue growth in Q1 2026 and supports the Travel Money business.
• Te Enviei Digital Wallet (Brazil)coreOEM/ Whitelabel/ Licensing Partner · 13 September 2022Western Union acquired Te Enviei Digital Wallet in Brazil in September 2022 to expand its digital wallet presence in the Brazilian market.

Scale indicators14 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• PayPal (Xoom): PayPal owns Xoom, a digital cross-border remittance service competing directly with Western Union for online money transfer volume, particularly in US-to-Latin America and US-to-Asia corridors. Xoom leverages PayPal's broader digital wallet ecosystem as a distribution advantage.
• Wise: Wise (formerly TransferWise) offers mid-market FX cross-border money transfers with a digital-first model, directly competing with Western Union on price transparency and online UX. Wise's pricing approach exposes the FX margin gap that is a key pressure point on WU's traditional model.
• MoneyGram: MoneyGram is the closest direct competitor to Western Union's consumer money transfer business, operating a global cross-border remittance network with similar agent-location and digital channel distribution. Both companies compete head-to-head in retail remittance corridors, particularly in US-to-Latin America and US-to-Asia.
• Remitly: Remitly is a digital-first cross-border remittance provider serving migrant corridors globally with a mobile app-led experience and bank/wallet payout options. It is a direct competitor to Western Union's online remittance product and was tied with WU in Consumer Reports' 2026 remittance app testing.
• Convera: Convera is the former Western Union for Business B2B division divested in 2022, now an independent competitor serving 27,000+ corporate clients with international vendor payments, FX hedging, payroll, and trade finance. It is comparable as the B2B/corporate payments twin of WU's former self.
• WorldRemit: WorldRemit is a digital cross-border remittance specialist serving migrant senders globally with mobile money and bank deposit payouts. It competes with Western Union in the same corridors with a digital-only model, offering a comparable comparison point on unit economics and digital share gain.
• Payoneer: Payoneer provides cross-border B2B payments, mass payouts, and working capital to SMBs and marketplaces globally. It is comparable to the B2B corporate payments work Convera (formerly Western Union for Business) handles, representing the SMB-side counterpart to WU's consumer remittance franchise.

Emerging players

• Revolut: Revolut is a digital super-app offering multi-currency accounts, remittances, cards, and crypto to consumers and SMBs globally. While not a direct remittance specialist, it overlaps with WU on cross-border FX and consumer spend and represents the broader fintech-super-app competitive vector.
• Circle: Circle is the issuer of USDC, the largest regulated US-dollar stablecoin, and competes directly with Western Union's USDPT in the cross-border payments and on/off-ramp use cases. Circle's established liquidity and exchange listings make it the benchmark competitor for WU's emerging stablecoin franchise.
• Ripple: Ripple offers blockchain-based cross-border payments and the RLUSD stablecoin targeting financial institutions, directly comparable to Western Union's USDPT and Digital Asset Network strategy. Ripple represents a parallel blockchain-native approach to the same cross-border settlement problem WU is solving.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/WesternUnion
• YouTubeyoutube.com/c/westernunion
• Facebookfacebook.com/westernunion
• LinkedInlinkedin.com/company/western-union
• Instagraminstagram.com/westernunion

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A9 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Western Union