nsactions, 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 wire transfers and ACH, but in some situations, checks are remitted. In addition, in certain countries, the company writes foreign currency forward and option contracts for customers to facilitate future payments. Sales and Distribution: The company’s business payment services are primarily offered over the phone, through partner channels, and via 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 are grouped in the ‘Other’ category, which primarily includes its money order, prepaid and other businesses and services. Customers use its money orders for making purchases, paying bills, and as an alternative to checks. The company’s prepaid business is primarily composed of providing reload/top up services for various types of prepaid services, including mobile phone and prepaid accounts, including prepaid cards, and partnering with select program managers worldwide to launch prepaid accounts that meet varying customer needs. Intellectual Property The Western Union logos, trademarks, service marks and trade dress (collectively, Marks) 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, Equity Accelerator, Pago Fácil (registered in Argentina), Western Union Business Solutions and MoneyWise. 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 which subject these subsidiaries to Austrian and Brazilian regulations. 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, a limited liability investment company organized under Article XII of the New York Banking Law. Other Stored-value services offered by the company are subject to United States federal and state laws and regulations, as well as laws and regulations outside of the United States, related to consumer protection, licensing, escheat and money laundering. Significant Events In October 2014, The Western Union Company had launched international and domestic money transfer services at over 90 Food City locations. History The Western Union Company was incorporated in Delaware in 2006.
western union co (WU:New York)
12500 East Belford Avenue
Englewood, CO 80112
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