Tag: Western Union

Postal Co. extends Western Union pact

Posted by | Jul 25, 2007 | |

The Israel Postal Company and Western Union, a leading provider of global money transfer services, said last Tuesday 24th they extended their cooperation agreement under which Western Union money transfers have been available at over 500 post office branches around the country for the last 15 years.

“The Israel Postal Company provides a wide range of services to a large base of customers. The loyalty of our customers is due to a high level of customer satisfaction with the post and with the Western Union Money Transfer service, which we are very proud of being able to offer exclusively in Israel,” said Baruch Tepper, Postal Bank director.

Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and make purchases.

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Higher Overhead Costs Drag Down Western Union Q2 Profit By 7 pct

Posted by | Jul 24, 2007 | |

Western Union reported net income of USD 204.5 million, down 7 pct from USD 218.9 million and earnings dipped 10 pct to USD 0.26 per share from USD 0.29 per share in the same quarter last year. The company added that its results included USD 0.04 per share towards costs associated with being a public company. Twenty-one analysts, on average, surveyed by First Call/Thomson Financial expected the company to report earnings of USD 0.26 per share.

Total revenues advanced 8 pct to USD 1.2 billion from USD 1.11 billion in the previous year quarter. Sixteen Wall Street analysts’ consensus revenue estimate was USD 1.22 billion. Western Union attributed revenue upside to 14 pct international consumer-to-consumer business on 20 pct transaction growth.

While revenue from transaction fees rose 6 pct to USD 981.4 million from USD 921.7 million, revenue from foreign exchange advanced 13 pct to USD 185.8 million from USD 165.1 million and commission and other revenues contributed USD 35.7 million, 33 pct higher than USD 26.8 million recorded in the year-ago quarter.

Western Union said that its domestic consumer-to-consumer business witnessed a 10 pct downside in revenue on 5pct fall in transactions due to the immigration debate and broader market. The company also indicated that there was a sequential modest improvement. The company said that in a trend paralleling the Mexico business, domestic transaction volume showed improvements in every successive month of the second quarter with June witnessing the smallest downside of 3 pct .

The company disclosed that it was on a four-part strategy to improve its Mexico unit. Western Union believes that the revenue decline of 7 pct in the second quarter from the Mexico unit will moderate as the year progresses.

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Western Union adds Chief Marketing Officer to Executive Team

Posted by | Jul 23, 2007 | |

The Western Union Company announced the addition of Gail A. Galuppo to its executive management team. As Executive Vice President and Chief Marketing Officer, Galuppo will direct Western Union’s global branding, marketing strategy, sales management and product development.

“Gail is a veteran in the marketing field with extensive global experience in the financial services and consumer products space,” said Christina A. Gold, President and Chief Executive Officer, The Western Union Company. “Her reputation for innovation and her proven ability to drive new product development has led to impressive growth in all of her previous roles. We look forward to applying Gail’s unique talents and perspective to Western Union’s global growth strategy.”

Galuppo, 43, joins Western Union after two years as the Chief Marketing and Customer Officer for the Standard Chartered Bank in Singapore, where she was responsible for marketing and brand strategy for the consumer banking business across Asia, the Middle East and Africa.

In addition, Galuppo has 19 years of marketing, brand strategy and customer relationship management experience and has worked in senior-level positions with Sears Holdings Corp., GE Capital Card Services, Discover Card Financial Services and the Illinois CPA Society.

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Western Union Services Now Available at 263 Checksmart Financial Locations in 11 States Nationwide

Posted by | Jul 9, 2007 | |

The Western Union Company and Checksmart Financial announced today that Western Union services are now available at 263 Checksmart locations in 11 states nationwide.

Checksmart Financial, which formerly offered a competitor’s services, joins Western Union’s network of more than 305,000 Agent locations – including subsidiaries Orlandi Valuta and Vigo – in more than 200 countries and territories worldwide.

With the agreement, 227 Checksmart Financial locations will offer Western Union(R) Money Transfers, Western Union-branded money orders, and utility bill payments to select utilities. Seventeen Checksmart locations will offer Western Union Money Transfers and money orders, and 19 locations will offer money orders.

Checksmart Financial operates locations under the names Checksmart, Buckeye Checksmart, Express Payroll Advance, Southwest Check Cashing, Buckeye Title Loan and Cash 1 in Arizona, California, Florida, Indiana, Kansas, Kentucky, Michigan, Missouri, Ohio, Utah and Virginia. The majority of locations are open from 8 a.m. to 8 p.m. seven days a week, with some locations open 24 hours a day.

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Correos, Western and Corte Ingles launch campaign for immigrants

Posted by | Jul 4, 2007 | |

Correos, Western Union and “El Corte Ingles” (Spanish retail store) are launching a campaign during July and August for the Argentinian and Uruguayan people living in Spain. The purpose of the campaign is to facilitate the remittance of money.

Each customer who sends money to Uruguay and Argentina in one of the 250 offices will gain a typical tea and dessert from these countries.

The Spanish government estimates that there are around 4 million immigrants in Spain and around 120,000 from Argentina and Uruguay.

In 1999, Correos signed an agreement with Western Union to include money transfers in its 2,124 office networks.

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