Thursday, January 02, 2003

Western Union pays $8 million fine...

... for not complying with regulatory instructions.

Other than that business is fine. Business Review Albany reports:

First Data has four main business segments — payment, merchant, credit-card issuing and emerging payments services. Western Union belongs to the company's payment services area.

For 2002's first three quarters, First Data reported a 14 percent increase in revenue to $5.6 billion. Net income increased 51 percent to $885 million.

Those results reflect strong increases in global money transfers, better operating margins and the addition of merchant services company TASQ Technology Inc.