WU Expands Mobile Money Service - Analyst Blog
26 2월 2013 - 11:50PM
Zacks
In an effort to expand its mobile money transfer service,
Western Union Co. (WU) has announced a strategic
agreement with, Ericsson (ERIC). Per the agreement
the company has certified Ericsson Wallet Platform via which
customers using their mobile phones can transfer money through
their phones.
Both the companies will complement each other in the capability,
given a strong brand image enjoyed by them in their respective
markets.
The company is aggressively embracing the use of new age technology
for providing flawless service to its customers. Mobile payments
are gaining momentum due to convenience and round-the-clock
accessibility. This service is expected to witness faster adoption
rate than any other electronic channel. The company has already in
operation its mobile money transfer service in many of the regions
of the world such as Afghanistan, Bangladesh, El Salvador,
Guatemala, Indonesia, Kenya, Madagascar, Malaysia, Paraguay, the
Philippines, Tanzania, Uganda, Vietnam, and the U.S.
We believe that Western Union’s participation in electronic
channels like prepaid, mobile, and internet will boost its
near-term earnings which should help offset pressures on its
traditional paper-based product offerings.
Of late Western Union had a rough patch with regulatory compliance
issues due to which it had to cancel its agents in the Mexican
region. The company also suffered revenue loss on account of these
negative developments.
Western Union is trying to offset these pressures by developing and
expanding additional new age services in the form of prepaid,
online money transfer, bank to bank direct transfer etc.
Earlier during the month Moneygram International
Inc. (MGI), another company in the money transfer industry
announced its mobile money transfer facility to the users of
iPhone, Android or Windows 8 mobile devices in the U.S.
Among player in the financial services industry – H&R
Block, Inc. (HRB) with Zacks Rank #2 (Buy) is worth
considering.
ERICSSON LM ADR (ERIC): Free Stock Analysis Report
BLOCK H & R (HRB): Free Stock Analysis Report
MONEYGRAM INTL (MGI): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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Western Union (NYSE:WU)
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Western Union (NYSE:WU)
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