Choosing the Right Provider: Western Union vs. Fidelity Express

Regardless of the industry you’re in or the offerings you provide, when you choose to partner with another company, it’s vital that you align with that company’s vision. Failing to do so could lead you to a relationship that looks like a good option on paper, but in reality, provides no return on your investment. If you own a small retail or convenience store, you either currently offer walk-in financial services, or you’re looking to add them to your suite of offerings.

Researching walk-in financial providers can be a hassle, so we’ll save you some time. Here’s everything you need to know about Western Union, their advantages, who they serve, and whether they’re the right fit for you.

Who is Western Union?

Western Union is a competitor in the walk-in financial products space, specifically for money orders and cash bill payment. Because they’ve been in business for years and their name is well-recognized, it’s easy to trust Western Union as a partner for your small retail store. However, upon second glance, like many big chains, Western Union may not have your best interest in mind. So what do they have to offer you?

What Are the Pros and Cons of Western Union?

An advantage that Western Union provides is the ease with which their end users can complete a transaction. More specifically, they offer the ability for cash-paying users to make a money transfer online, through their app, or in person at an agent’s location. However, from the agent’s perspective, this is clearly a con, as it directs customers away from their physical location and to the Western Union website.

Western Union has more than 42,000 convenient agent locations around the country which makes it easy for customers to find access to the financial services they need. However, these locations are losing the opportunity to earn customer loyalty and higher revenues because Western Union makes their website a focal point over agent locations.

At the end of the day, the biggest disadvantage of Western Union is that some amount of volume will always be driven away from your store to Western Union’s online experience. Their approach to the market is not designed to help agents like you get the business you need.

Western Union also requires agents to maintain a level of volume on certain products to preserve pricing on other products. So, if you’re not earning additional income from increased store traffic, you’re only going to lose money trying to keep up with Western Union.

What Makes Fidelity Express Different?

Fidelity Express is another player in the walk-in financial products space, but our approach is vastly different. We specialize in providing services that bring returning business to your location.

Fidelity Express is partnered with thousands of stores and processes millions of payments annually for cash-paying customers. Though we partner with fewer agents than Western Union, we have a much greater capacity and passion for providing each agent with the utmost care they deserve. Your store is our priority.

As opposed to Western Union, we only focus on retail locations to generate transactions – not our website. We are in the business of helping the independent retail location so they can better help their customers.

Plus, you can’t beat the simplicity of our offering. Our software is extremely easy to use – it works like a phone app. It is very user-friendly for your employees to learn and train. You’ll quickly earn customer trust as they see how quickly and easily they can make a transaction at your store.

Unlike Western Union, Fidelity Express does not require long-term contracts or monthly fees. Moreover, your experience with us is not dependent on volume so you don’t need to maintain a specific level of volume on certain products and retain our low pricing on other products. We set a monthly minimum of $59, and that minimum can be achieved through transacting on any of our products.

The Final Verdict

At the end of the day, you know your business better than anyone else, but it’s important to choose a walk-in financial provider that’s willing to listen.

Though well-recognized with plenty of experience, Western Union is only there to help their end users, and to earn a revenue for themselves. Since they draw traffic away from your store and have pricing models that are contingent upon volume, you risk losing money when you choose Western Union.

Fidelity Express is here to help your customers by helping you first. Our customers are single-store and small chain owners who diligently serve their communities. With easy to use software, affordable pricing, and a mission to help agents like you, the choice has never been more clear.