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Western Union to Set Up Self Service Kiosks at Walgreens

Zacks Equity Research

The world leader in money transferring, Western Union Co. WU, has announced a tie-up with Walgreens, the largest drug chain store in the U.S.

The company introduced Western Union® Bill Payment services which will be provided via digital self-service kiosks. It will enable customers to make payments to 15,000 billers across the United States and beyond.

Walgreens’ self service kiosks at more than 7,800 locations, will also allow the customers of Western Union to also use its existing international and domestic money transfer services.

Apart from providing fast and reliable services, customers can also use their rewards program “My WU” at these kiosks.

With Walgreens, Western Union will be able to expand its payments network. The kiosks will allow international remittance to more than 200 countries and territories across the globe from the U.S.

On the other hand, Walgreens will be able to provide enhanced financial services to its customers. The tie-up with Western Union will increase customers’ footfall in the store for making bill payments or for remitting money.

As the name suggests (self service kiosks) customers will be able to make transactions by themselves, and authenticate them by using photo touchscreen.

The partnership with Walgreens is a strategic fit for Western Union. It will expand the company’s already vast agent network and help it to maintain its leadership in the money transfer space.

Western Union carries a Zacks Rank #3 (Hold). Some better-ranked players in the space are Equifax Inc. EFX, Evotec AG EVTC and Fiserv, Inc. FISV. Each of these stocks carries a Zacks Rank # 2 (Buy).

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