Women set to move US$ 300.6 Billion; half of
$601.3 Billion in Global Remittances in 2016
In honor of International Women’s Day 2016, The Western Union
Company (NYSE: WU), a leader in global payments services,
recognizes the contributions made by global women work-force in
their communities – both in their adopted country as well as their
homeland.
The company also saluted developed and emerging economies for
paving the way for these women to cross borders and called for
greater recognition and integration as women emerge as powerful
drivers of economies.
Of the 247 million migrants around the world, women account for
nearly 50 percent and are set to move half of the estimated US $601
billion that will cross borders in 2016.1 More than 75 percent of
these remittances flow into developing countries, underpinning a
powerful economic dialogue between families from one side of the
globe to the other.
These women move money as much as men but at a greater
percentage of their income. They are better educated, with three in
10 having attained a university education, compared to about two in
10 of their male counterparts. These women have attained higher
education and have lower overall employment rates than men, a
pattern observed globally as well as across developed nations.
“International Women’s Day is an opportunity to shine a light on
the accomplishments of women, especially the hundreds of millions
that cross borders and are economic change agents for their
families, their home countries, and their host nations across the
globe,” said Hikmet Ersek, President and CEO, Western Union.
“This day is also about acknowledging the nations that enable
these women to succeed and pave the way for immeasurable
possibilities. We call upon the world community to further
recognize the skills of these women, drive greater integration and
magnify their opportunity so they are prepared for 21st century
careers,” said Ersek.
Mr. Ersek joins a host of global leaders in recognizing the
contributions of women around the world on this International
Women’s Day and supports
www.internationalwomensday.com/PledgeForParityCampaign.
“At Western Union, we are driving our company to greater success
with women representing more than half of our 10,000 employees.
They are helping to ensure we meet global consumers’ cross-border
money transfer needs and collaboratively achieve our fintech
vision,” said Ersek.
The company recently appointed two women to senior positions,
Elizabeth G. Chambers as Chief Strategy and Product Officer and
Jacqueline Molnar, Chief Compliance Officer. Both appointments will
play a significant role to advance Western Union’s strategic
fintech vision and omni-channel approach in moving money across
currencies and borders for a broad base of individual consumers,
small businesses, large corporations, universities and NGOs.
In addition, Western Union and the Western Union Foundation are
launching the second phase of Education for Better. This phase will
continue throughout the next five years, with a goal to help 50,000
women and youth build job skills that prepare them for 21st century
careers.
CHAIN OF BETTERS
The Western Union® Chain of Betters Competition
(www.chainofbetters.com) is highlighting gender parity throughout
the month of March. Five special additional awards have been made
available for people submitting ideas for “betters” that benefit
education or social improvement for women or girls anywhere in the
world. This initiative is being publicized with a film about a
young South African woman, Siba Gqirana, who is training to become
a pilot thanks to the company’s overarching Chain of Betters
program. Even in 2016 only 5% of pilots around the world are women.
Learn more about Siba and her family in the video below
https://youtu.be/OWNNXlwZ4N0.
The Western Union® Chain of Betters Competition, designed to
kick start a chain of selfless good deeds around the world, awards
US$1,000 (or local currency equivalent) to projects that make
lasting positive change for individuals and communities around the
world, with nominations accepted from 128 countries and territories
worldwide. No purchase necessary. Void where prohibited. Open to
legal residents over 18 years of age in eligible countries. Subject
to terms and conditions at chainofbetters.com.
About International Woman’s Day
Each year International Women's Day (IWD) is celebrated
on March 8. The first International Women's Day was held in
1911. Thousands of events occur to mark the social, economic,
political and cultural achievements of women. Organizations,
governments, charities, educational institutions, women's groups,
corporations and the media around the world celebrate the
achievements of women while calling for greater
equality. #PledgeForParity is the 2016 theme for
the internationalwomensday.com global hub, encouraging effective
action for advancing and recognizing women.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
December 31, 2015, the Western Union, Vigo and Orlandi Valuta
branded services were offered through a combined network of over
500,000 agent locations in 200 countries and territories and over
100,000 ATMs and kiosks, and included the capability to send money
to over one billion accounts. In 2015, The Western Union Company
completed 262 million consumer-to-consumer transactions worldwide,
moving $82 billion of principal between consumers, and 508 million
business payments. For more information, visit
www.westernunion.com.
1 World Bank Migration and Remittances Factbook 2016
WU-G
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Western UnionGlobal Corporate Communications:Dan
Díaz, +1 (303) 547-2347daniel.diaz@WesternUnion.comorAmericas
and European Union:Pia De Lima, +1 954 260
5732pia.delima@westernunion.comorMiddle East, Africa,
Asia-Pacific, Eastern Europe & CIS:Ingrid Sahu, 971 4
4373656Ingrid.sahu@westernunion.com
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