western union financial services international the fastest way to receive money worldwide
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WESTERN UNION FINANCIAL SERVICES INTERNATIONALWESTERN UNION FINANCIAL SERVICES INTERNATIONAL
The fastest way to receive money worldwide
History of Western UnionHistory of Western UnionWestern Union started providing telegraph services in the US in 1851. The first coast to coast telegraph line was built by Western Union.Western Union inaugurated the money transfer service in 1871 and introduced the first consumer charge card in 1914.Western Union started the first domestic communication satellite and introduced domestic telex service in 1958.Western Union introduced International Money Transfers in 1989
The fastest way to receive money worldwide
MilestonesMilestonesIn 1995, Western Union was acquired by First Data Corporation ( FDC ).FDC is a worldwide leader in payment services and transaction processing.FDC is a Fortune 500 company traded on the NYSE.FDC has a market capitalization of $16 Billion.
The fastest way to receive money worldwide
FIRST DATA CORPORATIONFIRST DATA CORPORATION
Payment InstrumentsPayment Instruments Merchant ProcessingMerchant Processing
Card Issuer ServicesCard Issuer Services Specialty ServicesSpecialty Services
Customers rely on First Data to sendCustomers rely on First Data to send more than $1 trillion annually worldwide.more than $1 trillion annually worldwide.
More than 280 Million cardholders and 1,400More than 280 Million cardholders and 1,400financial institutions rely on Firstfinancial institutions rely on FirstData to keep track of their money.Data to keep track of their money.
More than 2 million merchant locationsMore than 2 million merchant locationsrely on First Data to approve their rely on First Data to approve their customers’ sales.customers’ sales.
Clients rely on First Data for innovativeClients rely on First Data for innovativemarketing and customer service toolsmarketing and customer service toolsand solutions.and solutions.
FDC – Fact FileFDC – Fact File
1 Mn txns processed every hour, $3Bn settled per day !US$ 6.5 Billion Dollar Revenue in 2001312 Mn card accounts on file.72,000 Internet merchants – Strategic partnership with IBM,Dell,Yahoo & Excite.America’s Most Admired Co. – Fortune Magazine - 1998Over 27,000 employees worldwide.
FDC - FinancialsFDC - Financials 2001 2000 1999 1998
$17.2 Bn $17.2 Bn $17 Bn $16 Bn
$6.4 Bn $5.7 Bn $5.5 Bn $5.1 Bn
$1 Bn $884 Mn $770 Mn $697 Mn
109 Mn 89 Mn 73.5 Mn 61.4 Mn
Total Assets
Revenue
Net Income
Money Transfer
Western Union InternationalWestern Union InternationalTODAYTODAY
196 countries.130,000 plus locations…exceeding the no. of worldwide locations owned or operated by McDonald’s, Burger King, Wal-Mart, Kmart, Sears & Starbuck’s combined !6 Regional Offices - Florida, Hong Kong, Paris, Vienna , Moscow & Dubai.5 Regional Operation Centers - Costa Rica, Brussels, Sydney, Bridgeton & Dallas.
The fastest way to receive money worldwide
Western Union – Products & ServicesWestern Union – Products & Services
A. Consumer Services:
- Will Call service allows Money Transfers to be sent and picked up at any Western Union location.
- Directed Money Transfer allows consumers to send money to countries where transfer and bank draft services are more difficult to find.
The fastest way to receive money worldwide
Western Union – Products & ServicesWestern Union – Products & ServicesB. Commercial Services:
- Quick Pay is a payment service that allows customers to send cash payments to companies for a set fee.
- Quick Cash is a service that allows companies to send money to their customers or employees.
The fastest way to receive money worldwide
THE WESTERN UNION MONEY TRANSFER THE WESTERN UNION MONEY TRANSFER PROCESSPROCESS
Sending Agent
Sender
Customer Service Center (CSC)
"To send money" Form
Host Computer
"To receive money" Form
Non-PC Equipped Location
PC Equipped Location
Paying Agent
Receiver or Payee
Remote Location
9
MANDATORY DETAILS MANDATORY DETAILS (for receiving money)(for receiving money)
– MTCN– Name of the person who has sent money.– Place from where the money was sent.– The amount sent– Receivers photo identification (9 types of
ID acceptable)
Why would someone use Western Union?Why would someone use Western Union? Largest Money Transfer Company in the
worldReceiver can take the money within 10
seconds of being sent by the sender.ConvenienceExtended hoursNo need for accountsA PREMIUM SERVICE
The fastest way to receive money worldwide
Who sends Money Who sends Money TransfersTransfers
Remittance:People working in foreign countries send money home to family and friends.
Emergency:To replace traveler’s lost or stolen money.
Parents send money to children travelling or at school.
Commercial:Businesses paying for purchases and unexpected expenses.
The Western Union The Western Union differencedifference
CONVENIENCE:
Over 130,000 locations in 196 countries. Locations right in your neighborhood. Locations open 6 to 7 days a week. Extended business hours. Customers do not require any membership
or any account.
The Western Union The Western Union differencedifference
SPEED :
The fastest way to send and receive money worldwide.
Cutting edge of technology and support. Money is available within minutes after it is
sent. Service is courteous and fast.
The Western Union The Western Union differencedifference
Trust and Reliability:
130 years in the money transfer business.
Each transaction is protected and assured
Premium quality service at affordable rates.
In 2002 Western Union handled over 140
million money transfers !
Western Union AgentsWestern Union Agents Banks
Money Changers
Post Offices
Travel Agencies
Food Stores
Courier Companies
Check Cashiers
The fastest way to receive money worldwide
3388
14414499
300300
10510533
804804
752752 927927
12721272
802802262262
801801
2424
585899
4848
3344
44404404
424255
184184
66
22249249 66
Western Union Western Union Locations in IndiaLocations in India
7979
183183
11 112525
6611
3838
Market Potential - INDIAMarket Potential - INDIA
20 + million Indian immigrants send home approx. over $ 20 Billion.Money comes from the US, UK, Germany, and other parts of Western Europe.Potential Countries – Middle East & South East Asia.Money comes to India in 3 ways:
Overseas branches of Indian BanksInternational Banks Unofficial
Indians around the Indians around the worldworld
Middle EastMiddle East 5 Mn.5 Mn.
EuropeEurope 5 Mn.5 Mn.
US & CanadaUS & Canada 3 Mn.3 Mn.
OthersOthers 7 Mn.7 Mn.
Remittances to IndiaRemittances to India
Middle EastMiddle East $7 Bn.$7 Bn.
EuropeEurope $6.5 Bn.$6.5 Bn.
US & CanadaUS & Canada $4.5 Bn.$4.5 Bn.
OthersOthers $2 Bn.$2 Bn.
40%
9%9%4%
3%
35%
U.S.
U.K.
Germany
Israel
I taly
Others
Top Corridors - INDIATop Corridors - INDIA
Our Top 6 Business Partners Our Top 6 Business Partners in Indiain India
India PostIndia Post
Wall Street Finance Ltd.Wall Street Finance Ltd.
Sita World Travel (India) Ltd.Sita World Travel (India) Ltd.
AFL LimitedAFL Limited
Transcorp InternationalTranscorp International
Paul Merchants Ltd.Paul Merchants Ltd.
Possible P & L ProjectionPossible P & L Projection USD
Revenue per Transaction $50.00Agent Share (25% Fee & 25% FX) $12.50Labor Expense -$0.50Marketing Expense -$1.25Telecommn. Expense (50% Share) -$0.50Miscellaneous Costs -$0.50
-----------Gross ProfitGross Profit $9.75$9.75
-------- GP%
78.0%
What we bringWhat we bring
New source of incremental revenue
Association with the market leader
Merchandising and marketing support
Agent training and support
Integrated business support
Business Consultant approach
Part of Western Union family
What we offerWhat we offer
Sharing of charges and foreign exchange.
Connect to 130,000 locations, 196 countries,only one
correspondent – Streamlined net settlement Vs bilateral
Sharing of international communication costs.
Supply of merchandise and point of sale material.
Supply of reconciliation and MIS software at no cost.
Contribution to in country marketing efforts.
BenefitsBenefits
New source of incremental Revenue and Profits.
Increases customer traffic for existing business.
Association with the No. 1 Money Transfer Company.
Support by a premier brand name.
New product opportunities….with minimum initial investment.
Your commitmentYour commitment
Provide market development.
Comply with Service Contract.
Commit at least 10% of revenue to marketing.
Provide superior customer service.
Offer timely transfer of funds.
Ensure ability to pay out in cash. Maintain security and confidentiality of consumer data.
SummarySummary
The potential is huge !!!Western Union brings you a distribution
network of over 130,000 locations in 196 countries.We offer synergy to your existing products
and customer expectations.We bring in incremental revenue for your
organization.
Thank YouThank You