#Payments / Western Union CEO: ‘We’re On An M&A Hunt’

One of the world’s largest digital money movers could be getting bigger… [CEO:] “I am pretty active on the mergers and acquisitions front… Our financial position is much better than any competitors…”

WU reported … digital money transfer revenue grew 48 percent and 50 percent on a constant currency basis to a record high of $219 million for the period that ended June 30.

[Regarding the]… recent Bloomberg News report about a potential bid to purchase rival MoneyGram that would combine two of the nation’s biggest digital platforms. WU’s market value is $9.6 billion and has more than 500,000 locations in 200 countries, while MoneyGram’s is valued at $220 million with 350,000 global locations… [Mercator:] “Western Union will have the opportunity to consolidate the MoneyGram volume to its platform and jettison duplicitous brick and mortar locations…”

https://www.pymnts.com/news/partnerships-acquisitions/2020/western-union-ceo-were-on-an-ma-hunt/