ENGLEWOOD, Colo., Nov 22, 2011 (BUSINESS WIRE) --

The Western Union Company (NYSE:WU), a leader in global payments, found in a recent global survey conducted by Wakefield Research that consumers in the United States could forgo the Black Friday Frenzy, which can contribute to overspending, as 82 percent of consumers surveyed in the U.S. do not think there is a "must-have" gift for 2011.

If required to choose a "must-have" gift this year, electronics (30 percent) come in first, but cash is No. 2 on holiday wish-lists this year. One in 4 (24 percent) prefer cash over clothing (9 percent), books and movies (5 percent) or jewelry (3 percent).

Wallet Worries in U.S. and Around the World

According to the survey, consumers in the United States, South Africa, United Kingdom, United Arab Emirates, and Brazil also see overspending as the number one worry this holiday season. When there's more than just one person on the gift list, it is easy to let the costs add up. This year, more than anything else, consumers in the U.S. are concerned about overspending (38 percent) as their top holiday season worry. Eating too much (14 percent), finding the perfect gift (11 percent), seeing family (8 percent), and meeting work commitments (5 percent) stack high on the worry list, as well.

"The gift of cash with Western Union is the 'one-size-fits-all' holiday gift on everyone's list," Victoria López-Negrete, senior vice president and general manager, North America, Western Union said. "This year consumers can increase their wallet-consciousness by using Western Union for seasonal gift-giving, and enjoy a stress-free Black Friday."

The global gifting survey of eight countries - the United States, Mexico, Brazil, United Kingdom, Germany, United Arab Emirates, South Africa and India - found that when it comes to holiday shopping, saving money, and wanting to please your loved ones, we are more alike than different. The company commissioned this global survey to align with the Western Union^(R)World of Betters, which asks consumers how they would make the world a better place, in collaboration with several international recording artists.

Avoid Breaking Holiday Budgets by Giving the Gift of Cash

A majority (69 percent) of U.S. consumers plan to make a holiday budget this year, up 15 percent from 2010 when only 54 percent planned to make a budget. However, many U.S. consumers will remain unsuccessful at sticking to their budgets this year with 62 percent expected to spend more than they have budgeted if it means finding the perfect gift. The survey also found 83 percent of U.S. consumers would rather have $50 in cash than a gift worth $50. Gifts are great, but many want the extra money this year.

To facilitate gift giving solutions this holiday season, and help consumers be mindful of their budgets, Western Union is offering "$50 for $5" - consumers can send up to $50 from participating Agent locations to loved ones in the U.S. for five dollars or send a Western Union^(R)gift card,* with a personalized greeting card and voice message, available exclusively at www.westernunion.com.

Recently, the company launched Western Union World of Betters, one program of many designed to help raise awareness on the many ways we can make someone's day better. Eligible participants should visit www.worldofbetters.com and upload their entry of no more than 100 words describing how they would use US$1,000 to make the world a better place. Participants are then encouraged to tell their family and friends to view their story and vote on the website. Public voting will determine 500 entries, from which a judging panel will select 100 Western Union World of Betters ideas, and winners will receive the equivalent of US$1,000 cash to bring their idea to life. Those entering the contest should submit their entries by 11:59:59 p.m. GMT on December 15, 2011.

To learn more and submit an entry, visit www.worldofbetters.com, click on the enter button to complete the registration form and follow the instructions on how to submit the entry. The site is available in English, Spanish, French, and German, with some pages available in Portuguese, Russian and Arabic. No purchase necessary to enter or win. Entry is subject to the Official Rules available at www.worldofbetters.com. Void where prohibited by law.

The survey, commissioned by Western Union and conducted by Wakefield Researchpolled nationally representative adults aged 18 years old and older between Sept. 21 and Oct. 21, 2011 in the following countries: 1,000 respondents in the U.S., 500 respondents in Mexico, 500 respondents in Germany, 500 respondents in India, 500 respondents in Brazil, 500 respondents in the UAE, 500 respondents in S. Africa, and 500 respondents in the U.K.

* Gift Card only for sale and shipment to the 48 contiguous states excluding AZ, PO Boxes, U.S. military bases and correctional facilities. A $2.50 per month servicing fee applies after 12 consecutive months of non-use.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of September 30, 2011, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 485,000 Agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit www.westernunion.com.

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SOURCE: Western Union

Western Union
Dan Díaz, +1 303-547-2347
daniel.diaz@westernunion.com
or
L'Teisha Ryan, +1 303-478-9029
lteisha.ryan@westernunion.com