WESTERN UNION COMPANY

(WU)
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Western Union and the Western Union Foundation Support Tonga Relief Efforts

01/26/2022 | 04:01pm EDT

Western Union Waives Transfer Fees for Money Transfers into Tonga Through February, 28, 2022; Western Union Foundation Pledges a Donation and Kicks Off a Fundraising Appeal with Agents and Employees

The Western Union Company, a global leader in cross-border, cross-currency money movement and payments, today announced business and foundation support for communities impacted by the devastating volcanic eruption and tsunami in Tonga.

Tonga Transfer Fees Waived

Western Union is waiving transfer fees1 for all international money transfers into Tonga through February 28, 2022. This includes transactions made from both digital and retail channels. Specifically, fees are waived on Westernunion.com in more than 75 countries, Western Union app in more than 55 countries or via our global retail Agent network across more than 200 countries and territories.

Customers in Tonga may receive their money transfers in cash at Agent locations in-country. Currently, Western Union services are available in a limited capacity at Agent locations across the country, with more locations being reopened as the internet interruptions are resolved. Customers are advised to check the Agent Locator for information on the nearest locations. Customers also have the option to receive mobile money transfers with Digicel.

Foundation Donation and Fundraising Appeal

In addition, the Western Union Foundation has pledged a donation as well as announced a fundraising appeal with agents and employees. Western Union employee donations to the Foundation will be eligible for a 2:1 match and Agent donations will be eligible for a 1:1 match. The total contribution for this effort will be up to USD100,000, including donations from the Foundation and the contributions from employees and agents, with commitments exceeding USD50,000 to date.

“Our hearts go out to the people of Tonga and families of those impacted,” said Sohini Rajola, Head of Middle East and Asia Pacific, Western Union. “As the country grapples with this tragedy, we hope this initiative will help support the much needed relief, by facilitating additional financial flows into the country.”

"We stand in solidarity with the people of Tonga as they stay strong against the devastating impact of last week’s natural disaster,” said Elizabeth Roscoe, Executive Director, Western Union Foundation. “We have a long history of giving back to the communities in need, and we hope our joint efforts with our partners and employees, provide much needed critical relief on the ground in Tonga."

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect businesses, financial institutions, governments, and consumers through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and approximately 600,000 retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.

About the Western Union Foundation

The Western Union Foundation believes that education is the surest pathway to economic opportunity. After 20 years of impact, we continue to deliver on our mission with Opportunity Beyond Borders, focused on empowering forcibly displaced and marginalized youth with the training and education needed to succeed in today’s technology-driven global economy. The Foundation also provides funding for humanitarian efforts for communities in crisis and disaster, one key reason for forced migration. To date, we have funded more than $137 million for projects and scholarships. The Western Union Foundation is a separate, tax-exempt 501(c)(3) charitable corporation and receives support from The Western Union Company, its employees, agents, and business partners. Contributions to the Foundation are tax-deductible for U.S. income tax purposes. To learn more, visit wu.com/foundation or follow us on Twitter @TheWUFoundation.

 


1Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates, and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.


© Business Wire 2022
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Financials (USD)
Sales 2022 4 553 M - -
Net income 2022 825 M - -
Net Debt 2022 1 575 M - -
P/E ratio 2022 7,90x
Yield 2022 5,56%
Capitalization 6 620 M 6 620 M -
EV / Sales 2022 1,80x
EV / Sales 2023 1,76x
Nbr of Employees 10 500
Free-Float 99,3%
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Devin B. McGranahan President, Chief Executive Officer & Director
Rajesh K. Agrawal Chief Financial Officer
Jeffrey A. Joerres Non-Executive Chairman
Tyler Hand Chief Compliance Officer
Betsy DeHaas Holden Independent Non-Executive Director
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