Western Union Launches a Digital Dollar Card as Sales Slip 2%

Western Union said its third quarter revenue fell 2% from a year earlier to $1 billion. CEO Devin McGranahan spoke about the results on an earnings call on Wednesday, Nov. 4. He pointed to digital tools, artificial intelligence and stablecoins as the company's path to growth, while it keeps cutting costs.

What Stablecard is

Stablecard launched in August. It lets people receive money and keep it as USDPT in a digital wallet. USDPT is Western Union's own stablecoin, launched in May. A stablecoin is a digital token meant to hold the value of a U.S. dollar. Users can then spend it with a USDPT-backed Visa secured credit card anywhere Visa is accepted.

McGranahan said the product suits places where people face currency swings or have limited access to dollars. "The goal is not to ask customers to become crypto experts," he said. He described it as a simple, compliant way to preserve value and use it for purchases or cash access. In June, crypto exchange Bybit added USDPT, creating a way to move money in and out in select Latin American markets.

Why sales are down

Western Union blamed the 2% drop on a slowdown in its North America retail business. In the second quarter, McGranahan said the Americas retail business was down because of changes in immigration policy. The company has since moved to cut costs.

• It announced plans to reduce headcount by more than 650 employees.
• It put AI to work across several functions.
• It moved a regional operating center and about 800 roles out of Costa Rica to other countries.

McGranahan said the old business model was changing faster than the company could cut costs. He believes costs are now moving back into line.

The Intermex deal

Western Union announced in August 2025 that it planned to buy International Money Express, known as Intermex, for $500 million. The goal was to strengthen its U.S. retail business and speed up digital customer sign-ups. New York approved the deal, but California is still reviewing it. McGranahan said the company recently heard from a California regulator and is working to find an acceptable path forward.

November 10, 2026 is the outside date in the merger agreement. After that, either side has the right to end the deal.

What to do

If you send money abroad or live where your currency swings, a dollar wallet may be worth a look. The material does not say what Stablecard costs, where it is available or what rules apply. Check those details before you move any money.