Western Union 2007 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2007 Western Union annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

Extending economies of scale
into the global marketplace
Our agent locations in India are
spread across 5,000 of its largest cities
and smallest villages. They deliver
income into these communities that
drives development and empowers
individuals. We’re proud to be a part
of this process and to have created
a business helping to bring prosperity
to our customers and agents.
It is the world’s second most populous nation and
receives more remittances than any other. For
these reasons we’re excited about our long-term
growth prospects in India. And no company is
better positioned to seize this opportunity than
Western Union. In early 2008, we opened our
50,000th agent location in India, and with the
unrivaled reach of our money transfer distribution
system and low agent start-up costs we plan to
add thousands more. Our agent network is what
makes Western Union so scalable from a business
perspective and so valued from a customer
perspective. Communities welcome us because
they have seen fi rsthand how a local Western
Union agent helps drive development and create
economic opportunities. And they trust us because
of our commitment to good business practices
and compliance with international money transfer
regulations. Our strategy of drawing on native
populations for agents and management execu-
tives also grants us profound sensitivity and
adaptability to local conditions. As a result we
can navigate cultural differences within complex
growing markets, building sustainable growth
through strong relationships.
INDIA
THE WESTERN UNION COMPANY 2007 Annual Report2007 Annual Report
6