Remittance Panel at Money20/20
Here is a video from the Remittance panel at Money2020 (2015) conference that happened in Las Vegas this year. I was particularly intrigued by this very specific segment in which the CEO of Western Union cited that Western Union makes 30 transactions per second (fast forward to the 7:40 second mark)*
Now there are essentially three ways to decipher what he says when he cites 30/transactions per second for Western Union:
- 30/transactions per second, on a 24/7/365 basis. [most likely case]
- 30/transactions per second 8 hours a day, 7 days a week
- 30/transactions per second 8 hours a day, 5 days a week.
Based on these assumptions, the number of transactions are:
- 946,080,000 transactions per year.
- 315,360,000 transactions per year.
- 224,640,000 transactions per year.
Now it would be interesting to see what the average value of a Western Union transaction is. Will do this later on. I need to dig up their revenue numbers and then calculate it from there.
- Credit to SaveOnSend for pointing out this video.