![]() Western Union also opened its platform to third-party financial institutions in a move it says is a “step toward creating an end-to-end payments processing hub.” ![]() ![]() This digital expansion, combined with the impact of the COVID-19 pandemic, has contributed to Western Union’s overall business profile shifting over the past 15 months.ĭigital channels in 2020 made up 29% of transactions and 20% of revenue for the company’s consumer-to-consumer (C2C) business, up from 16% and 14%, respectively, in 2019. The emphasis on beefing up its digital operations goes back a decade ago as the company worked to expand its digital send and bank account, wallet and card payout to more countries. ![]() Today, Western Union claims to hold the largest cross-border, digital, peer-to-peer payments network in terms of scale, revenue and channels.
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