Western Union: Migration Slowdown Reduces Growth of Remittances Business
A reduction in migration across Latin America led to slower growth in the remittances business at Western Union in the first quarter.The provider of cross-border, cross-currency money movement, payments and digital financial services saw its volume of Consumer Money Transfer (CMT) transactions in the Americas decline by 2% in the first quarter while its CMT business in the rest of the world, excluding Iraq, rose by 10%, according to a presentation released Wednesday (April 23). Overall, the number of CMT tr ...