Western Union 2014 Annual Report Download - page 145

2014 FORM 10-K
7
The table below presents the components of our consolidated revenue:
Year Ended December 31,
2014 2013 2012
Consumer-to-Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80% 80% 81%
Consumer-to-Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11% 11% 11%
Business Solutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7% 7% 6%
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2% 2% 2%
100% 100% 100%
No individual country outside the United States accounted for more than approximately 6% of our consolidated revenue for
each of the years ended December 31, 2014, 2013 and 2012.
For additional details regarding our Consumer-to-Consumer, Consumer-to-Business and Business Solutions segments,
including financial information regarding our international and United States revenues and long-lived assets, see Part II, Item 7,
Management's Discussion and Analysis of Financial Condition and Results of Operations, and Part II, Item 8, Financial Statements
and Supplementary Data in this Annual Report on Form 10-K.
See Part I, Item 1A, Risk Factors, for a discussion of certain risks relating to our foreign operations.
Consumer-to-Consumer Segment
Individual money transfers from one consumer to another are the core of our business, representing 80% of our total
consolidated revenues for 2014. We view our money transfer service as one interconnected global network where a money transfer
can be sent from one location to another, around the world. The segment includes five geographic regions whose functions are
limited to generating, managing and maintaining agent relationships and localized marketing activities, and also includes online
money transfer services conducted through Western Union branded websites ("westernunion.com"). By means of common
processes and systems, these regions and westernunion.com create an interconnected network for consumer transactions, thereby
constituting one global Consumer-to-Consumer money transfer business and one operating segment.
Although most remittances are sent from one of our agent locations worldwide, in some countries we offer the ability to
initiate transactions through websites, mobile devices, and account-based money transfers. All agent locations accept cash to
initiate a transaction, and some also accept debit cards. We offer consumers several options to receive a money transfer. While the
vast majority of transfers are paid in cash at agent locations, in some places we offer payout directly to the receiver's bank account,
to a stored-value card, through the issuance of a money order, or at a small number of locations, through a check.
Operations
Our revenue in this segment is derived primarily from transaction fees charged to consumers to transfer money. In money
transfers involving different send and receive currencies, we also generate revenue based on the difference between the exchange
rate set by us to the consumer and the rate at which we or our agents are able to acquire the currency.