Western Union 2014 Annual Report Download - page 151

2014 FORM 10-K
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Competition
Western Union competes with a diverse set of service providers offering payment services and foreign exchange risk
management solutions, including financial institutions and other non-bank competitors. We believe the most significant competitive
factors in this segment relate to recurring relationships founded on customer service and expertise in payments and foreign exchange,
customized solutions for specific industries and clients, convenience and speed of payments network, availability of derivative
products, variety of inbound and outbound payment methods, brand recognition and price.
Other
Our remaining businesses, including our money order services, are grouped in the "Other" category, in addition to costs for
the review and closing of acquisitions.
Customers use our money orders for making purchases, paying bills, and as an alternative to checks. We derive investment
income from interest generated on our money order settlement assets, which are primarily held in United States tax exempt state
and municipal debt securities.
Intellectual Property
The Western Union logos, trademarks, service marks and trade dress are registered and/or used worldwide and are material
to our Company. The WU® service mark and logos are also registered and used in many countries around the world. We offer
money transfer services under the Western Union, Orlandi ValutaSM and Vigo® brands. We also provide various payment and other
services such as Western Union Payments, Quick Collect, Convenience Pay, Quick Pay, Quick Cash, Speedpay, Pago Fácil
(registered in Argentina), and Western Union Business Solutions.
Our operating results over the past several years have allowed us to invest significantly each year to support our brands. In
2014, we invested approximately $210 million to market, advertise and promote our brands and services, including costs of
dedicated marketing personnel. Many of our agents have also contributed significant financial resources to assist with marketing
our services.
We own patents and patent applications covering various aspects of our processes and services. We have been, are and in the
future may be, subject to claims and suits alleging that our technology or business methods infringe patents owned by others, both
in and out of the United States. Unfavorable resolution of these claims could require us to change how we deliver services, result
in significant financial consequences, or both, which could adversely affect our business, financial condition and results of
operations.