The Western Union Company, a leader in global money transfer, was formed as a result of a spin-off from First Data Corporation on Sep 29, 2006. Since then, it has been trading on the New York Stock Exchange (NYSE) under the symbol "WU”.

Today, the company’s vast platform capabilities include both digital and physical money movement networks with over 550,000 locations across more than 200 countries and territories, digital send capabilities in over 70 countries and bank account payout capabilities in over 100 markets offering across to billions of accounts.

Western Union's business consists of the following segments:

Consumer Money Transfer (CMT): (91.9% of 2023 revenues): The Consumer-to-Consumer operating segment facilitates money transfer between two consumers, primarily through a network of third-party agents. This segment also includes money transfer transactions that can be initiated through websites and mobile devices. A substantial majority of the transfer in this segment is cross-border. The segment faces competition from global money transfer providers, regional money transfer providers, electronic channels, banks, post banks and post offices, informal networks, and also alternative channels.

Consumer Services (7.4%): which primarily consists of bill payments businesses in the U.S. and Argentina. In May 2019, the company sold its Speedpay business and Paymap mortgage payments services business.

The company completed the first closing of the previously announced divestiture of its Business Solutions segment to a consortium of Goldfinch Partners, LLC and The Baupost Group, LLC in March 2022. The second closing related to the sale of the United Kingdom operations took place in December 2022. The company completed the third and final closing of Business Solutions, including the European Union operations on Jul 1, 2023. This segment contributed 0.7% to the total revenues in 2023.