The money that kept moving in the pandemic
Brad Windbigler, treasurer at Western Union, talks to us about how the company navigated the challenges of the pandemic — particularly as the global nature of its network meant it had to contend with moving money across parts of the world that recovered at vastly different rates from one another.
While much of the world's economy froze during the pandemic, certain segments kept moving, and were even bolstered by weakness elsewhere. Remittances are a key example of this, since any interruption in a person's cash flow can create a higher demand to receive funds from friends and family overseas.
Even with these dynamics generating demand, Western Union's agent locations were under the same pressure as any brick-and-mortar business. While much has been made of the shift to digital payments in remittances and other categories, physical agents remained key to keeping cash flowing across borders.
Host: John Adams, Executive Editor, PaymentsSource
Guest: Brad Windbigler, Treasurer, Western Union