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Core Insights - Gen Z perceives cash as outdated, with over 53% stating they use it only as a last resort, and nearly one-third considering cash users as out of touch or "cringe" [1][5] - The use of cash is linked to impulsive spending among Gen Z, contrary to older generations who used cash to maintain discipline [2] - Digital payment methods are seen as a form of self-expression for Gen Z, reflecting their upbringing in a digital-first financial environment [3] Financial Knowledge Gaps - Despite comfort with digital tools, many in Gen Z lack basic financial knowledge, with only 44% aware of their savings account interest rates [4] - A significant portion of Gen Z is uncertain about whether their savings accounts earn interest, indicating a gap in financial literacy [4][5] - Recommendations for Gen Z include checking interest rates on savings accounts and considering high-yield accounts for better financial growth [6]

Summary of Western Union Company FY Conference Call Company Overview - **Company**: Western Union Company (NYSE: WU) - **Date of Conference**: November 19, 2025 Key Industry Insights - **Remittance Market Growth**: The global remittance market is expected to grow in line with global GDP, projected at 3-4% [68] - **Geopolitical Impact**: The business is sensitive to geopolitical events, such as elections and conflicts, which can disrupt operations [68] Financial Performance - **Evolve Strategy**: The company is largely on track with its Evolve strategy set in 2022, although the current run rate is slightly lower than anticipated due to geopolitical factors [9][10] - **Revenue Trends**: In Q3, GAAP revenue was flat, with expectations of 0% to 2% growth, indicating challenges in North America [10][12] - **Retail Business Size**: The retail business is currently valued at approximately $2.5 billion, with expectations of low single-digit shrinkage in the coming years [36][37] Digital Strategy - **Digital Growth**: The digital business is projected to grow significantly, with a goal of 50% of revenue coming from digital and consumer services by 2028 [33][34] - **Customer Acquisition Cost (CAC)**: The target is to maintain a CAC of under $20, which is considered industry-leading [27] - **Expansion Plans**: The company is expanding its digital services in underpenetrated markets, including the Philippines and Indonesia [28] Competitive Positioning - **Market Competitiveness**: Western Union is currently 70% competitive in pricing, with ongoing adjustments to maintain market position [14][15] - **Compliance and Security**: The company employs 3,000 compliance personnel to manage KYC and AML requirements, emphasizing the importance of regulatory adherence [21] Non-Remittance Revenue Growth - **Diversification Strategy**: Non-remittance revenue is expected to grow from 15% to 25% by 2028, driven by services like bill payment and digital wallets [46] - **Consumer Services Growth**: The consumer services segment is growing at over 20%, indicating strong demand for additional services [35] Acquisition of Intermex - **Strategic Acquisition**: The acquisition of Intermex is expected to add $500 million to $600 million in revenue, with significant synergies in digital capabilities and market reach [40][45] - **Market Expansion**: Intermex will allow Western Union to leverage its payout network to expand services to new corridors [43] Digital Asset Network - **Stablecoin Initiative**: The company is launching its own stablecoin, USDPT, which is expected to enhance transaction speed and reduce reliance on traditional banking systems [60][62] - **Consumer Empowerment**: The stablecoin will allow receivers to hold value in USD, providing them with more control over currency conversion [61] Risks and Opportunities - **Execution Risks**: The business is subject to execution risks related to geopolitical events and economic policies [68] - **Upside Potential**: Opportunities for growth include successful execution of the digital asset network, favorable immigration policies, and increased digital adoption [69] This summary encapsulates the key points discussed during the Western Union FY Conference Call, highlighting the company's strategic direction, financial performance, and market positioning.

Acquisition Deal - Lloyds Banking Group is set to acquire digital wallet provider Curve for £120 million [1] - The valuation of £120 million is significantly below Curve's previous fundraising rounds [1] Financial Status & Investor Reaction - Curve has raised over £250 million in the past [1] - Curve's CEO warned the company might run out of cash this year without a takeover [1] - Major shareholder IDC Ventures opposes the sale and is considering legal action due to the low valuation [1]

November 6, 2025 ©2025 Western Union Holdings, Inc. All rights reserved. Investor Day 2025 I Western Union Welcome Tom Hadley Vice President of Investor Relations and Corporate Development 2 ©2025 Western Union Holdings, Inc. All rights reserved. Investor Day 2025 I Western Union Agenda Strategic Update Devin McGranahan 02 Digital First Bob Rupczynski 03 Retail Enabled Giovanni Angelini & Massimiliano Alvisini 01 04 Beyond Remittances Sofia Graniello 05 Powered By Next Generation Payments Ben Hawksworth 06 ...

Financial Data and Key Metrics Changes - The company reported adjusted revenue of $1,033 million for Q3 2025, reflecting a 1% decline year-over-year when excluding Iraq [7][25] - Adjusted earnings per share (EPS) was $0.47, slightly up from $0.46 in the same quarter last year [9][25] - Adjusted operating margins improved to 20%, up from 19% in the prior year [25][26] Business Line Data and Key Metrics Changes - Consumer services adjusted revenue surged by 49% in Q3, driven by the acquisition of eurochange and a strong travel money business [9][26] - Consumer money transfer (CMT) transactions declined by 3% in the quarter, or 2% excluding Iraq, with higher average principal per transaction increasing by approximately 6% [28][29] - The branded digital business saw a 12% increase in transactions and a 6% rise in adjusted revenue, marking the eighth consecutive quarter of mid-single-digit or better revenue growth [9][29] Market Data and Key Metrics Changes - The retail business in North America faced headwinds due to geopolitical factors, while Europe experienced mid-single-digit transaction and revenue growth [5][8] - Transaction growth in the U.S. to Mexico corridor showed signs of improvement from previous lows, although it remains a critical area to monitor [12][84] - The company noted positive transaction growth to countries like Brazil, India, and Vietnam, while facing declines in corridors such as Mexico and El Salvador [11][12] Company Strategy and Development Direction - The company aims to enhance its retail model in the U.S. and is optimistic about the long-term outlook, expecting stabilization in migration patterns [6][7] - The acquisition of Intermex is expected to accelerate the company's retail strategy and improve its competitive positioning [6][81] - The company is focused on becoming more digital-centric, with over 55% of money transactions now being digital [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macroeconomic environment, citing declining inflation rates and stable GDP outlooks [10] - The company anticipates that global migration patterns will adapt rather than disappear, maintaining a strong connection to human mobility [13][14] - Management highlighted the importance of digital transformation and the potential for integrating digital assets into their business model [21][22] Other Important Information - The company generated over $400 million in operating cash flow year-to-date, with a strong balance sheet showing cash and cash equivalents of approximately $1 billion [31] - The 2025 outlook includes adjusted revenue guidance of $4,035 million to $4,135 million, with expectations to be at the lower end of this range [32][33] Q&A Session Summary Question: Recent trends in retail and North America segment - Management noted improvements from lows in mid-summer, particularly in the Mexico corridor, but emphasized that trends remain lumpy [38] Question: Visibility on travel money growth - Management indicated that travel money is expected to grow significantly, driven by the acquisition of eurochange and expansion into new markets [40][41] Question: Trends in LACA and North America - Management observed overall market stability and the lapping effects of previous declines due to elections in South America [55] Question: Digital transaction growth vs. revenue growth - Management explained that the acceleration in transactions was primarily due to partnerships in the Middle East, which typically have lower revenue per transaction [58][59] Question: Future of digital penetration - Management expects digital penetration to continue growing at double-digit rates, with significant opportunities in specific corridors [66][67] Question: Integration of Intermex model - Management intends to maintain the Intermex brand and model while integrating successful practices into their existing operations [81]

Financial Data and Key Metrics Changes - The company reported GAAP revenue of $1,033 million for the third quarter, with adjusted revenue down 1% year-over-year, excluding Iraq [7][32] - Adjusted earnings per share (EPS) increased to $0.47 from $0.46 in the prior year, benefiting from cost management and fewer shares outstanding [9][33] - Adjusted operating margins improved to 20%, up from 19% in the prior year, primarily due to cost discipline [32] Business Line Data and Key Metrics Changes - Consumer Services adjusted revenue surged by 49%, driven by the travel money business and the acquisition of Eurochange [9][33] - The branded digital business saw a 12% increase in transactions and a 6% rise in adjusted revenue, marking eight consecutive quarters of revenue growth [8][37] - Consumer money transfer transactions declined by 2.5% year-over-year, with a 3% decline overall, attributed to U.S. immigration policies [7][35] Market Data and Key Metrics Changes - The retail business in North America faced challenges, particularly in the U.S. to Mexico corridor, while Europe experienced mid-single-digit transaction and revenue growth [4][8] - Transaction growth was positive in corridors like Brazil, India, and Vietnam, but flat to slightly negative in others such as the Philippines and Colombia [12][13] - The company noted improvements in transaction growth from lows in June, particularly in the U.S. to Mexico corridor [13][46] Company Strategy and Development Direction - The company aims to enhance its customer-centric approach and expand its retail model in the U.S., with the acquisition of Intermex expected to accelerate this strategy [6][9] - A focus on digital transformation is evident, with over 40% of principal moved through digital channels and a growing digital wallet strategy [17][19] - The company is exploring opportunities in digital assets, including stablecoin solutions, to enhance efficiency and customer experience [25][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term business prospects, anticipating stabilization in migration patterns and continued revenue growth [6][14] - The macroeconomic environment remains stable, with declining inflation rates and strong GDP outlooks, which are expected to improve further with interest rate cuts [10][14] - Management acknowledged the impact of recent policy changes on customer behavior but remains confident in the resilience of their customer base [11][12] Other Important Information - The company generated over $400 million in operating cash flow year-to-date, with a strong balance sheet showing cash and cash equivalents of approximately $1 billion [39] - The company returned over $120 million to shareholders through dividends and share repurchases in the third quarter [40] - The 2025 outlook includes adjusted revenue guidance of $4.35 billion to $4.135 billion, with expectations for adjusted EPS in the range of $1.65 to $1.75 [41][42] Q&A Session Summary Question: Recent trends in retail and Americas segment - Management noted improvements from mid-summer lows, particularly in Mexico, with some corridors showing stabilization [47][48] Question: Visibility on travel money growth - The travel money business is expected to grow significantly, with strong management and expansion plans in place [49][50] Question: Trends in LACA and North America - Management observed overall market stability and easier comparisons in the latter part of the year, contributing to improved trends [62][64] Question: Digital transaction growth vs. revenue growth - The acceleration in transactions was primarily due to partnerships in the Middle East, which typically have lower revenue per transaction [66][67] Question: Future of digital penetration - Management expects digital penetration to continue growing, with opportunities for acceleration in specific corridors [75][78] Question: Contribution from Eurochange - The Eurochange acquisition contributed nearly half of the overall growth in Consumer Services this quarter [119]

Financial Data and Key Metrics Changes - The company reported adjusted revenue of $1.033 billion for Q3 2025, reflecting a 1% decline year-over-year when excluding impacts from Iraq [6][25] - Adjusted earnings per share (EPS) was $0.47, slightly up from $0.46 in the same quarter last year [9][25] - Adjusted operating margins improved to 20%, up from 19% in the prior year period, benefiting from cost discipline [25][26] Business Line Data and Key Metrics Changes - Consumer services adjusted revenue surged by 49% in Q3, driven by the travel money business and the acquisition of Eurochange [9][26] - Consumer money transfer transactions declined by 2.5% in the quarter, excluding Iraq, while average principal per transaction increased by approximately 6% [7][27] - The branded digital business saw a 12% increase in transactions and a 6% rise in adjusted revenue, marking the eighth consecutive quarter of mid-single-digit or better revenue growth [8][27] Market Data and Key Metrics Changes - The retail business in North America faced headwinds due to geopolitical factors, while Europe experienced mid-single-digit transaction and revenue growth [4][8] - Transaction growth in the U.S. to Mexico corridor showed signs of improvement from previous lows, with recent data indicating an 8% decline, an improvement from June lows [12][11] - The company noted positive transaction growth to countries like Brazil, India, and Vietnam, while facing declines in corridors such as Mexico and El Salvador [11][12] Company Strategy and Development Direction - The company aims to enhance its retail model in the U.S. and is optimistic about the long-term outlook, expecting stabilization in migration patterns [5][6] - The acquisition of Intermex is expected to accelerate the company's progress in building a competitive retail presence [5][6] - The company is focused on becoming more digital-centric, with over 55% of money transactions now being digital [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the global economic conditions, noting declining inflation rates and stable GDP outlooks [10] - The company is adapting to changing migration policies and customer behaviors, which have influenced transaction frequencies [11][12] - Management highlighted the importance of digital transformation and the potential for growth in digital assets, particularly following regulatory changes [20][21] Other Important Information - The company generated over $400 million in operating cash flow year-to-date, with a strong balance sheet showing cash and cash equivalents of approximately $1 billion [31] - The company returned over $120 million to shareholders through dividends and share repurchases in Q3 [31] - The 2025 outlook includes adjusted revenue guidance of $4.035 billion to $4.135 billion, with expectations leaning towards the lower end of the range [32][33] Q&A Session Summary Question: Recent trends in retail and North America segment - Management noted improvements from lows in mid-summer, particularly in Mexico, but emphasized that trends remain lumpy [35][37] Question: Visibility on travel money growth - The company expects travel money to grow significantly, driven by the acquisition of Eurochange and expansion into new markets [38][39] Question: Long-term digital penetration - Management anticipates continued growth in digital transactions, with a stable retail business expected to coexist [54][55] Question: Contribution from Eurochange - Eurochange contributed nearly half of the overall growth in consumer services this quarter, with expectations for sustained growth [84]

Marketing & Promotion - Bitget Wallet is initiating a program to track, reward, and spotlight individuals who are shaping influence for the platform [1] - An invitation code is provided for new users [1]

Group 1 - Klarna has launched two new products aimed at enhancing everyday spending, marking a significant move to disrupt retail banking in the UK [1] - The new product, Klarna balance, allows customers to store e-money in a Klarna account, facilitating the addition and withdrawal of funds, as well as receiving refunds and cashback rewards [1]