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Post Office Signs Long-Term Exclusive Deal With Western Union for Money Transfer Services in Branch

1. Western Union secures exclusive deal with Post Office for money transfer services. 2. Expansion will occur beyond the current 4,000 Post Office branches in the UK. 3. Financial incentives for postmasters will enhance customer service and engagement. 4. Joint marketing efforts to improve visibility and customer reach planned. 5. Deal supports Post Office's transformation and plans for increased postmaster compensation.

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Why Bullish?

The exclusive deal strengthens WU's market position and revenue potential within the UK, reminiscent of growth observed after similar strategic partnerships in the past.

How important is it?

The long-term exclusive agreement can enhance brand loyalty and customer base, likely leading to increased transactions and market share.

Why Long Term?

Increased customer access and financial incentives may drive sustained revenue growth, influencing WU's performance positively over time.

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LONDON--(BUSINESS WIRE)--Post Office and Western Union have today (4 June) announced a long-term exclusive deal for cross-border money transfer services at Post Office branches. This means Western Union will be the sole provider of international money transfer services at Post Office branches. The company will also expand beyond the current 4,000 Post Office locations which offer its money transfer services, providing customers a reliable and convenient way to send money overseas from thousands of locations across the UK. Western Union is a global leader in international money transfers, with customers able to send money to friends and family in over 200 countries and territories, and billions of bank accounts, millions of digital wallets and cards, and a global footprint of hundreds of thousands of retail locations. The deal further strengthens the commercial offer for postmasters and strategic partners, supporting greater footfall and improved service opportunities in branches. As part of the new deal with Western Union, postmasters and strategic partners will benefit from enhanced financial incentives for every money transfer transaction handled in branch, building on the uplift introduced in October 2024. Both organisations have committed to further investment in marketing, with more opportunities for bespoke signage and dual branded marketing campaigns. Neil Brocklehurst, Post Office CEO, said: “I am delighted that Western Union will be our exclusive partner in Post Office branches going forward and this deal brings important benefits for customers and postmasters alike. Post Offices are trusted locations which offer the reassurance of a face-to-face transaction for those who are sending or receiving money from friends and family abroad, and we are expanding the availability of these services. Under this new deal, postmasters and strategic partners will see more money in their pockets for each Western Union transaction which is a crucial part of the commitment to transform Post Office and deliver a ‘new deal for postmasters’.” Giovanni Angelini, President, Europe, Middle East and Africa, Western Union, said: “This deal marks a significant evolution in our partnership with the Post Office and reflects the mutual trust we have built over time. Importantly, this is a partnership based on our shared commitment to providing convenient, reliable access to cross-border financial services for customers across the UK. As we take this next step, our focus remains steadfast: deliver a truly integrated retail and digital experience and meet the diverse needs of customers, with scale, consistency, and confidence.” This exclusive deal for money transfer services follows Post Office’s agreement with 30 banks and building societies, signed in April, to protect access to cash on the UK high street until December 2030. Post Office CEO Neil Brocklehurst has a five-year plan to transform the organisation and significantly increase postmaster and partner pay. Deals with partners like Western Union strengthen the commercial offer of Post Office branches and are an essential part of delivering the transformation plan. For further information or to arrange an interview with a spokesperson, contact Post Office External Relations on pressoffice@postoffice.co.uk or Tel: 0207 012 3456. For Western Union enquiries or requests, contact Nicholas Mandalas on Nicholas.Mandalas@wu.com.

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