Western Union 2012 Annual Report Download - page 4

We are implementing pricing investments to enhance
our value proposition. And we are working to add
Agent locations, expanding in Europe, Latin America
and Asia, and paving the way to formalize money
transfer services in markets such as newly opened
Myanmar.
Western Union is strongly positioned to become
a leading cross-border digital agent. We are
increasing our investments in high-growth electronic
channels to build a world-class customer experience.
These efforts are paying off in rapid growth in digital,
account based money transfer, and mobile. Online,
westernunion.com money transfer transactions grew
more than 40% in 2012, while transactions for elec-
tronic account based money transfer through banks
surged more than 50%.
We endeavor to make it possible for consumers to
use prepaid cards to transfer and manage money,
enabling us to penetrate additional markets with
unmet needs such as travel and government pay-
ments. We now offer prepaid cards and services in
12 countries, and we are continuing to expand into
new countries and segments.
We see a long term opportunity in business-
to-business payments. Western Union Business
Solutions is expanding to new markets, reaching 30
countries in 2012, moving more than $80 billion in
principal and serving approximately 100,000 clients.
Business Solutions is increasing product offerings
for small businesses, exporters, educational institu-
tions and non-governmental organizations, enabling
international commerce with personalized customer
service, innovation and expertise.
Western Union Payments offers innovative solu-
tions for billers and consumers. From walk-in
payments at our Agent locations to electronic bill
payments, including online and mobile, our pay ment
capabilities aim to meet evolving consumer demands,
while supporting billers to maximize their business
efforts.
I believe our commitment to responsibility sets
us apart. How we conduct our business is just as
important as the business itself, and we endeavor to
systematically build on our strengths, and address
the areas where we have room to grow. We are very
committed, for example, to implementing best-in-
class programs for consumer protection, anti-money
laundering and compliance, and corporate social
responsibility.
We are connecting with our customers in new ways
and rallying our Agents and employees around a
shared social cause. We have seen that education
is the surest path to a better future. That is why, in
2012, we launched Education for Better, our new
three-year commitment to engage our key stake-
holders in meeting global education goals.
The strategic actions we began to implement in
2012 position us well for the future. We are mak-
ing adjustments to improve our core businesses as
well as diversifying our product portfolio, and I
strongly believe in our future. In 2013 we will con-
tinue our transition, with a clear focus on returning
our business to stronger revenue and profit growth in
2014 and 2015. Our key initiatives include strengthen-
ing consumer money transfer, driving customer
growth and usage in Western Union Business
Solutions, and generating and deploying strong cash
flow for shareholders.
Thank you for your investment and confidence in our
work. Together with Western Union’s global team,
I look forward to advancing our business in 2013
and beyond.
HIKMET ERSEK
President, Chief Executive Officer and Director
April 17, 2013
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