Western Union reported first quarter, declined 2% compared to the prior year period, or increased 4% on a constant currency basis. Transactions rose 3% for the first quarter to 61.75 million, according to CardData.
Consumer-to-Consumer (C2C) revenues declined 4%, or increased 2% constant currency, while transactions increased 3% in the quarter. Westernunion.com C2C revenue increased 17%, or 23% constant currency, on transaction growth of 25%. Electronic channels revenue, which includes westernunion.com, account based money transfer through banks, and mobile money transfer, increased 17% in the quarter. Electronic channels as a percent of total Company revenues increased to 7% in the quarter.
Consumer-to-Business (C2B) revenues grew 7% in the quarter, or 11% constant currency, led by the U.S. electronic bill payments business.
Western Union Business Solutions revenues decreased 1%, or increased 7% on a constant currency basis. Constant currency growth was driven by strength in Europe, including increased customer use of hedging products.
1Q/14 60.24 million
2Q/14 63.96 million
3Q/14 65.31 million
4Q/14 65.42 million
1Q/15 61.75 million
Source: Western Union
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