ions, for small and medium size enterprises and other organizations and individuals. The majority of the segment's business relates to exchanges of currency at the spot rate, which enables customers to make cross-currency payments. In addition, in certain countries, the company writes foreign currency forward and option contracts for customers to facilitate future payments. Travelex Global Business Payments (TGBP) is included in this segment. Business Solutions payment transactions are conducted through various channels, including the phone and Internet. Payments are made predominately through electronic transfers, but in some situations, checks are remitted. Distribution and Marketing: The company’s business payment services are primarily offered over the phone, through partner channels, and through the Internet. The company’s Internet services are marketed through co-branding arrangements with its Website partners, as well as on its own Website. The company has relationships with approximately 100,000 customers with respect to its payment solutions. Other The company’s remaining businesses, including its money order services, are grouped in the Other category. Customers use its money orders for making purchases, paying bills, and as an alternative to checks. It derives investment income from interest generated on its money order settlement assets, which are primarily held in United States tax exempt state and municipal debt securities. Intellectual Property The Western Union logos, trademarks, service marks and trade dress are registered and/or used worldwide. The WU service mark and logos are also registered and used in various countries worldwide. The company offers money transfer services under the Western Union, Orlandi Valuta and Vigo brands. The company also provides various payment and other services, such as Western Union Payments, Quick Collect, Convenience Pay, Quick Pay, Quick Cash, Speedpay, Pago Fácil (registered in Argentina), and Western Union Business Solutions. Regulations Money Transfer and Payment Instrument Licensing and Regulation: The company’s money transfer and money order services are subject to anti-money laundering laws and regulations, including the Bank Secrecy Act, as amended, including by the USA PATRIOT Act of 2001, and similar state laws and regulations. Privacy and Information Security Regulations: In the United States, data privacy and data breach laws, such as the federal Gramm-Leach-Bliley Act and various state laws apply directly to a range of financial institutions, including money transfer providers like Western Union, and indirectly to companies that provide services to or on behalf of those institutions. Banking Regulations: The company has subsidiaries that operate under banking licenses granted by the Austrian Financial Market Authority and the Brazilian Central Bank. The company is also subject to regulation, examination and supervision by the New York State Department of Financial Services, which has regulatory authority over its entity that holds all interests in these subsidiaries. Other: The company is subject to annual reviews to ensure compliance with Payment Card Industry regulations worldwide and are subject to fines if it is found to be non-compliant. History The Western Union Company was incorporated in Delaware in 2006.
western union co
(WU*:Mexico Stock Exchange)
12500 East Belford Avenue
Englewood, CO 80112
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