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Fintech & Ecommerce

Western Union reports new record in digital transactions

Jun 03, 2020

The company provided a May update on the transaction trends for its C2C business

Western Union

Western Union reports new record in digital transactions. Source: shutterstock.com

Western Union has revealed that in Q1 2020, the company faced significant declines in transactions for its C2C business due to the pandemic. Despite the late March and early April declines were nearly 30%, in mid-April, the rate began to improve.

Improvement in both retail and digital transaction trends continued during May, bringing the highest growth in a decade. According to Western Union’s data, within digital trends, transactions grew 39% in April and 51% in May.

We are encouraged that our money transfer transaction trends continue to improve as the disruptive effect of COVID-19 appears to be lessening. Importantly, the strong growth we are seeing in our digital business is especially impressive given that our digital money transfer business was already over $600 million of revenue in 2019, and it confirms that our digitally focused growth strategy is positioning us well for the future
Hikmet Ersek, Western Union President and CEO 

We’ve reported that Western Union has announced the expansion of its Global Network for real-time money-movement to 50 more countries.

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