XML 71 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Subsequent Event
3 Months Ended
Mar. 31, 2020
Subsequent Event  
Subsequent Event

17. Subsequent Event

In the later part of March 2020, the Company began experiencing decreases in Consumer-to-Consumer transactions as a result of COVID-19. For example, although the impacts varied by week and region, the Company experienced a decline of approximately 20% in transactions, on average, during the second half of March, compared to the same period in the prior year. This decline was caused by decreases in transactions from the Company’s walk-in retail business and was partially offset by an increase in transactions initiated through westernunion.com.

The Company expects that total revenues in the second quarter of 2020 will be negatively impacted by the effects of COVID-19, which could continue to negatively impact revenue into subsequent periods. The duration and severity of the pandemic, including the responses of government authorities to the pandemic and the macro economic consequences, are uncertain. The Company expects that its results will continue to be adversely impacted as long as such factors persist.