Western Union Expands Online Service - Analyst Blog
15 10월 2011 - 1:21AM
Zacks
Global payment services provider Western Union
Co. (WU) announced that it has spread
Online FX and Online FX for Mobile services in France, Germany,
Ireland and Italy.
This facility will be available via Western Union Business
Solutions (legacy Custom House), a line of service under Western
Union’s Global Business Payments Segment.
Western Union Business Solutions offers international
cross-border, cross-currency business-to-business payment solutions
through various channels including the telephone and internet. The
majority of Business Solutions’ business relates to exchange of
currencies at the spot rate which enables customers to make
cross-currency payments.
Online FX and Online FX for Mobile service expansion will make
it simple for the small and medium enterprises in these regions to
make payments to their suppliers anywhere anytime around the globe
easily and conveniently. The customers will also have a wide choice
of 140 different currencies. This service is already available in
United Kingdom and the company is contemplating reaching out to
other European countries.
Western Union finds the markets of France, Germany, Ireland and
Italy attractive as imports into these countries are expected to
grow at the average rate of 5.3% in 2011 as forecasted by the
International Monetary Fund.
This move by Western Union reflects its long-term strategy to
position itself firmly in the rapidly growing cross-border payments
market for small- to medium-sized enterprises (SMEs). The company
made a foray into this market by acquiring Custom House in 2009,
which had more than 40,000 customers with payouts in 120 countries
and in over 150 currencies. The acquisition made Western Union an
instant player in the international business-to-business (B2B)
payments market.
Western Union which is scheduled to report on October 25 after
market-close is expected to post earnings of 39 cents as per the
Zacks Consensus Estimate which would translate into an earnings
growth of approximately 11.7%. The company closely competes with
MoneyGram International, Inc. (MGI) which is
slated to release third quarter results on October 27.
MONEYGRAM INTL (MGI): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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