Western Union 2012 Annual Report Download - page 3

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DEAR FELLOW SHAREHOLDERS,
Western Union moves money along more than
16,000 corridors. These corridors are combinations
of send and receive destinations such as the U.S.
to the Dominican Republic, Russia to Uzbekistan,
Germany to Turkey, and UAE to Philippines. There
are thousands more examples. Our global team is
inspired and motivated by the stories of our custom-
ers and the extraordinary impact of the money sent
through our unmatched network in 200 countries
and territories.
Let me give you some examples. In Vietnam, we
deliver funds to people’s homes. Last spring we
signed agents in Iraq who are enabling workers from
Eastern Europe and Asia, who have come thousands
of miles for jobs, to send money back home to fami-
lies and loved ones.
In 2012 we celebrated our 20th anniversary in Poland. In
a busy passageway under the streets of Warsaw, we
have one of the smallest Agent retail shops you will
ever see. You can spread out your arms and touch both
ends of it. From this location, Western Union processes
more than 1,500 transactions a month. We have loca-
tions at train stations in Milan, on busy streets in
Mumbai, and in remote villages in Tanzania. In rural
El Salvador and Paraguay, consumers can receive inter-
national remittances on their mobile phone accounts
without having to leave home via our mobile money
transfer service, which is now available in 15 countries.
We meet customers’ needs by bridging gaps in
the financial services sector for consumers and
businesses alike. We strive to enable our consumers
to access our global network anytime, anywhere, any
way they need—quickly and conveniently—to meet
their financial needs and achieve their full potential.
Western Union is a global brand with extensive cus-
tomer relationships, vast payment capabilities and
local market expertise. We operate through a net-
work of more than 500,000 Agent locations and
100,000 ATMs, with the capacity to move money in
more than 120 currencies.
We have made considerable progress evolving into a
multi-channel, multi-product company that will create
opportunities for more consumers and businesses
than ever before.
Our business is financially strong, and we con-
tinued to generate strong cash flow in 2012. We
experienced a third consecutive year of constant cur-
rency revenue growth, and returned more than $1 bil-
lion to shareholders through a combination of stock
buybacks and dividends. Even as we invest for the
future in 2013, we expect to generate and deploy
high levels of cash flow for our shareholders.
While we faced challenges in our consumer money
transfer business in 2012, we are taking actions
that we believe position us well for future growth.
On behalf of nearly 9,000 passionate and hard-working Western Union
employees and approximately 1,000,000 Agent front line associates,
I am pleased to take this opportunity to reflect on our company’s
progress in 2012 and share our vision for 2013 and beyond.
WESTERN UNION page 1