Western Union CFO Expects Increased Spending on WU Way Program
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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WU US (Western Union Co/The)
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Rajesh Agrawal (Western Union Co/The)
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UUID: 7947283
(Bloomberg) -- The amount Western Union spends on its WU Way initiative will be “ramping up more heavily in the next three quarters,” CFO Rajesh Agrawal said in a phone interview.
- NOTE: WU spent $14m on WU Way in 1Q17; spent $20m in 2016 and expects to spend about $100m in 2017
- WU Way is focused on improving customer experience, Agrawal said; one example is giving customers digital tools so they understand the status of their transactions
- Separately, Agrawal said a takeover of competitor MoneyGram by Ant Financial or Euronet doesn’t change WU’s strategy
- NOTE: March 14, MoneyGram-Euronet a Greater Threat to Western Union: Street Wrap
- NOTE: Feb. 10, Western Union’s ‘WU Way’ Program Raises Concerns, Analysts Say
- NOTE: Jan. 19, Western Union to Pay $586 Million Over Failure to Stop Fraud
- WU Said to Keep Compliance Spending Unchanged After Settlement
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
WU US (Western Union Co/The)
People
Rajesh Agrawal (Western Union Co/The)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283