Exhibit 99.1

Western Union Reports Third Quarter Results

Revenue of $1.3 Billion and GAAP EPS of $0.26

EPS of $0.33 Excluding Accrual for Regulatory Settlement

Year-to-date Cash Flow from Operations of $1 Billion

Englewood, Colo., October 20, 2009 – The Western Union Company (NYSE: WU), a leader in the money transfer segment of global payments, today reported financial results for the third quarter.

Financial highlights for the quarter included:

Other highlights included:

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Western Union President and Chief Executive Officer Christina Gold said, “We were pleased to see consistency in transaction and revenue trends relative to the prior quarter. Our geographically diverse portfolio delivered 3% growth in consumer-to-consumer transactions, as strength in key international markets offset softness in other countries. We also achieved our 2009 goal of surpassing 400,000 agent locations.”

Gold continued, “We made strong progress on our focused set of strategic growth initiatives. We achieved advances with our Americas banking strategy, signed letters of agreement with key retail agents in Europe, and concluded the acquisition of Custom House, which gives us a strong platform to grow in the cross-border, business-to-business payments market. We expanded our presence in mobile money transfer with new carriers and additional mobile-enabled locations. Additionally, we continued to pilot programs positioning the company for the long-term opportunities available in prepaid.”

Accrual for Anticipated Regulatory Settlement

During the quarter, the company recorded a pre-tax accrual of $71 million related to an anticipated regulatory settlement. The anticipated settlement includes resolution of all outstanding legal issues and claims with the state of Arizona, as well as a multi-state agreement to fund a not-for-profit organization. A significant portion of the accrual relates to the funding of this organization, which will promote safety and security along the entire U.S. and Mexico border. In addition, as part of the agreement, the Company anticipates committing to make further investments in its compliance programs in the U.S.-Mexico border area over the next two to three years. A final agreement is expected to be completed before the end of 2009.

“Our objective is to move forward without the uncertainty surrounding this issue, as well as to contribute to improving conditions along the border,” Gold said. “These legal matters date back to 2003, and the identified compliance procedures involved are not an issue today. Over the years we have made significant improvements to our compliance programs, which we believe are the best in the industry.”

Consolidated Results

In the third quarter, revenue was $1.3 billion, down 5% from the comparable period last year or down 2% on a constant currency basis. Custom House added $8 million of revenue and $5 million of operating loss, primarily due to acquisition-related costs. Third quarter operating income margin was 21%, or 27% excluding the impact from the settlement accrual. Operating income margin in the third quarter of 2008 was 27%.

GAAP earnings per share was $0.26, or EPS of $0.33 excluding the settlement accrual. On a constant currency basis EPS excluding the settlement accrual was $0.01 lower. GAAP EPS in the third quarter of 2008 was $0.33.

The effective tax rate for the third quarter of 2009 was 27%, which compared to 28% for the same period in 2008.

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Capital Deployment & Liquidity

Western Union’s year-to-date cash flow from operations was $958 million and capital expenditures were $67 million. Through nine months, Western Union repurchased 15.6 million shares for $225 million, at an average price of $14.38 per share. The company maintains its target of $400 million in repurchases for 2009.

Cash on hand at quarter-end was $1.6 billion and total outstanding debt was $3 billion. The nearest-dated debt maturity is $1 billion due in November of 2011. The company has a commercial paper program that is fully backed by a $1.5 billion revolving credit facility that expires in 2012. At quarter-end, there was no commercial paper outstanding and the credit facility was fully available.

Consumer-to-Consumer (C2C)

The consumer-to-consumer segment represented 85% of Western Union’s revenue at $1.1 billion in the third quarter, a decrease of 5% or a decrease of 3% constant currency adjusted. Operating income was down 6% and operating income margin was 28%, which compared to an operating income margin of 28% in the third quarter of 2008. The settlement accrual is not included in segment results. Western Union handled 50 million C2C transactions, a 3% increase over the third quarter of 2008.

For the international portion of C2C, revenue declined 3% and was flat constant currency adjusted, on transaction growth of 6%. Revenue from the subset of the international business, those transactions that originate outside of the United States, declined 2%, or increased 1% constant currency adjusted, on transaction growth of 9% during the quarter.

The Europe, Middle East, Africa and South Asia (EMEASA) region, which represented 46% of Western Union revenue, saw revenue decline 3% and transactions grow 8% compared to last year’s third quarter. The Gulf States posted strong growth, although transaction and revenue growth moderated from the second quarter. Western Europe experienced consistent transaction growth rates compared to the second quarter. India achieved revenue growth of 8% and transaction growth of 16% in the quarter.

The November 1, 2009 implementation of the European Payment Services Directive (PSD) provides the opportunity to sign retail agent locations in certain countries. A scalable sales and operations infrastructure enhanced by the acquisition of FEXCO’s money transfer business earlier this year further strengthens the company’s ability to address the growth opportunities provided by the PSD. In the third quarter, the company signed letters of agreement with Lagardère Services, Ortel Finance, and PayUp that provide the potential for retail expansion at over 15,000 locations throughout Europe.

The Americas region, which represented 31% of Western Union revenue, reported a revenue decline of 10% compared to last year’s third quarter while transactions decreased by 4%. These

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trends have improved slightly compared to the second quarter of 2009. The U.S. outbound business, which is the largest component of the Americas region, had transaction trends consistent with the previous four quarters. The domestic money transfer business saw revenue decline 15% in the quarter on a transaction decline of 9%. The Mexico business, which was 6% of Western Union revenue, had a revenue decline of 18% and a transaction decline of 13% in the quarter.

The Asia Pacific (APAC) region, which represented 8% of Western Union revenue, increased revenue by 5% on transaction growth of 15% during the third quarter. China revenue and transactions each increased 7%.

Global Business Payments

The Global Business Payments segment represented 13% of Western Union’s revenue. Revenue for the quarter was $171 million, a decline of 3%, or down 7% excluding Custom House. Operating income margin was 24%, compared to 26% in the third quarter of 2008. Operating income margin excluding Custom House was consistent with the prior year’s third quarter.

On September 1, 2009, the company advanced an important component of its strategy to expand the product portfolio and geographic reach of the Global Business Payments segment with the completion of the Custom House acquisition. Custom House offers a simplified process for small-to-medium enterprises (SMEs) making cross-border business-to-business payments. Western Union estimates that the SME cross-border payments market generates global revenue at least as great as the consumer-to-consumer money transfer market.

Outlook

The Company has narrowed its revenue and EPS outlook to the higher end of previous expectations, excluding the impact of the settlement accrual. The Custom House acquisition is included in the Company’s outlook, with an expected impact of less than 1% on revenues and $0.01 dilution to EPS. The company now expects the following full-year 2009 financial results:

Christina Gold concluded: “The outlook for Western Union’s business performance in 2009 has moved to the higher end of our previous expectations, excluding the impact of the settlement accrual. Despite the challenging economy, we have delivered solid results. We believe we have continued to gain market share, and recent stabilization trends are encouraging. Our world class

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brand, 400,000 agent locations, and financial strength, along with the progress we are achieving on key growth initiatives and strategies, give us confidence in the future.”

Non-GAAP Measures

Western Union presents a number of non-GAAP measurements because management believes that these metrics provide more meaningful information than GAAP metrics alone. These non-GAAP measurements include revenue decline constant currency adjusted, operating income margin and earnings per share excluding the estimated settlement accrual, consumer-to-consumer segment revenue decline constant currency adjusted, international consumer-to-consumer revenue decline constant currency adjusted, international consumer-to-consumer excluding United States originated transactions revenue decline constant currency adjusted, Global Business Payments revenue decline and operating income margin excluding Custom House, 2009 earnings per share and operating income margin outlook excluding the impact from the settlement accrual, and 2009 revenue outlook constant currency adjusted.

Reconciliations of non-GAAP to comparable GAAP measures are available in the accompanying schedules and in the “Investor Relations” section of the company’s web site at www.westernunion.com.

Currency

Constant currency results exclude any benefit or loss caused by foreign exchange fluctuations between foreign currencies and the U.S. dollar, net of the effect of foreign currency hedges, which would not have occurred if there had been a constant currency rate. The measurement also assumes the impact of fluctuations in foreign currency derivatives not designated as hedges and the portion of fair value that is excluded from the measure of effectiveness for those contracts designated as hedges is consistent with the prior year.

Investor and Analyst Conference Call and Slide Presentation

Western Union President and Chief Executive Officer Christina Gold will host a conference call and webcast including slides, at 8:30 a.m. Eastern Time today. Joining Christina on the conference call will be Scott Scheirman, Executive Vice President and Chief Financial Officer. To listen to the conference call live via telephone, dial 800-261-3417 (U.S.) or + 1-617-614-3673 (outside the U.S.) ten minutes prior to the start of the call. The pass code is 90158231.

The conference call and accompanying slides will be available via webcast at http://ir.westernunion.com/investor. Registration for the event is required, so please allow at least five minutes to register prior to the scheduled start time.

A replay of the call will be available one hour after the call ends through October 27, 2009, at 5:00 p.m. Eastern Time at 888-286-8010 (U.S.) or +1-617-801-6888 (outside the U.S.). The pass code is 80442665. A webcast replay will be available at http://ir.westernunion.com/investor for the same time period.

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Please note: All statements made by Western Union officers on this call are the property of Western Union and subject to copyright protection. Other than the replay, Western Union has not authorized, and disclaims responsibility for, any recording, replay or distribution of any transcription of this call.

Safe Harbor Compliance Statement for Forward-Looking Statements

This press release contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from those expressed in, or implied by, our forward-looking statements. Words such as “expects,” “intends,” “anticipates,” “believes,” “estimates,” “guides,” “provides guidance,” “provides outlook” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could” are intended to identify such forward-looking statements. Readers of this press release by The Western Union Company (the “Company,” “Western Union,” “we,” “our” or “us”) should not rely solely on the forward-looking statements and should consider all uncertainties and risks discussed in the Risk Factors section and throughout the Annual Report on Form 10-K for the year ended December 31, 2008. The statements are only as of the date they are made, and the Company undertakes no obligation to update any forward-looking statement.

Possible events or factors that could cause results or performance to differ materially from those expressed in our forward-looking statements include the following: changes in general economic conditions and economic conditions in the regions and industries in which we operate; adverse movements and volatility in capital markets and other events which affect our liquidity, the liquidity of our agents or clients, or the value of, or our ability to recover our investments; changes in immigration laws, patterns and other factors related to migrants; technological changes, particularly with respect to e-commerce; the failure by us, our agents or subagents to comply with our business and technology standards and contract requirements or applicable laws and regulations, especially laws designed to prevent money laundering and terrorist financing, and/or changing regulatory or enforcement interpretations of those laws; failure to resolve pending legal issues with the State of Arizona in a satisfactory manner; our ability to attract and retain qualified key employees and to manage our workforce successfully; changes in, and failure to manage effectively exposure to, foreign exchange rates, including the impact of the regulation of foreign exchange spreads on money transfers; political conditions and related actions in the United States and abroad which may adversely affect our businesses and economic conditions as a whole; failure to maintain sufficient amounts or types of regulatory capital to meet the changing requirements of our regulators worldwide; significantly slower growth or declines in the money transfer market and other markets in which we operate; failure to implement agent contracts according to schedule; our ability to maintain our agent network and biller relationships under terms consistent with or more advantageous to us than those currently in place; interruptions of United States government relations with countries in which we have or are implementing material agent contracts; deterioration in consumers’ and clients’ confidence in our business, or in money transfer providers generally; failure to manage credit and fraud risks presented by our agents, clients and consumers, or non-performance by our banks, lenders, other financial services providers or insurers; adverse rating actions by credit rating agencies; liabilities and unanticipated developments resulting from litigation and regulatory investigations

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and similar matters, including costs, expenses, settlements and judgments; changes in United States or foreign laws, rules and regulations including the Internal Revenue Code, and governmental or judicial interpretations thereof; our ability to favorably resolve tax matters with the Internal Revenue Service and other tax authorities; changes in industry standards affecting our business; changes in accounting standards, rules and interpretations; failure to compete effectively in the money transfer industry with respect to global and niche or corridor money transfer providers, banks and other money transfer services providers, including telecommunications providers, card associations and card-based payment providers; our failure to develop and introduce new products, services and enhancements, and gain market acceptance of such products; our ability to protect our brands and our other intellectual property rights; our failure to manage the potential both for patent protection and patent liability in the context of a rapidly developing legal framework for intellectual property protection; any material breach of security of or interruptions in any of our systems; mergers, acquisitions and integration of acquired businesses and technologies into our company and the realization of anticipated synergies from these acquisitions; adverse consequences from our spin-off from First Data Corporation, including resolution of certain ongoing matters; decisions to downsize, sell or close units, or to transition operating activities from one location to another or to third parties, particularly transitions from the United States to other countries; decisions to change our business mix; cessation of various services provided to us by third-party vendors; catastrophic events; and management’s ability to identify and manage these and other risks.

About Western Union

The Western Union Company (NYSE:WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta and Pago Facil branded payment services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. Western Union, Vigo and Orlandi Valuta operate through a combined network of more than 400,000 agent locations in 200 countries and territories. In 2008, The Western Union Company completed 188 million consumer-to-consumer transactions worldwide, moving $74 billion of principal between consumers, and 412 million consumer-to-business transactions. For more information, visit www.westernunion.com.

WU-F, WU-G

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THE WESTERN UNION COMPANY

CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share amounts)

(unaudited)

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THE WESTERN UNION COMPANY

CONSOLIDATED BALANCE SHEETS

(in millions, except per share amounts)

(unaudited)

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THE WESTERN UNION COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

(unaudited)

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THE WESTERN UNION COMPANY

SUMMARY SEGMENT DATA

(in millions)

(unaudited)

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THE WESTERN UNION COMPANY

KEY INDICATORS

(in millions)

(unaudited)

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

(unaudited)

Western Union’s management has presented: (1) Consolidated, consumer-to-consumer segment, international consumer-to-consumer, and international consumer-to-consumer excluding United States originated transactions revenue declines, excluding the impact of translating foreign currency denominated revenues into United States dollars; (2) Operating income margin, excluding the impact from the estimated settlement accrual; (3) Earnings per share excluding the impact from the estimated settlement accrual; (4) Global Business Payments revenue decline and operating income margin, excluding the impact from the Custom House acquisition; (5) 2009 Revenue outlook, excluding the estimated impact of translating foreign currency denominated revenue into United States dollars; and (6) 2009 earnings per share and operating income margin outlook, excluding the impact from the estimated settlement accrual. Western Union’s management believes these non-GAAP measures provide meaningful supplemental information regarding our operating results to assist management, investors, analysts, and others in understanding our financial results and to better analyze trends in our underlying business, because they provide consistency and comparability to prior periods.

A non-GAAP financial measure should not be considered in isolation or as a substitute for the most comparable GAAP financial measure. A non-GAAP financial measure reflects an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the reconciliation to the corresponding GAAP financial measure, provide a more complete understanding of our business. Users of the financial statements are encouraged to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures is included on the following pages.

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

(unaudited)

Refer to footnote explanations at the end of this “Reconciliation of Non-GAAP Measures.”

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

(unaudited)

Refer to footnote explanations at the end of this “Reconciliation of Non-GAAP Measures.”

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions, except per share amounts)

(unaudited)

Refer to footnote explanations at the end of this “Reconciliation of Non-GAAP Measures.”

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

(unaudited)

Refer to footnote explanations at the end of this “Reconciliation of Non-GAAP Measures.”

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(unaudited)

2009 Revenue Outlook

Refer to footnote explanations at the end of this “Reconciliation of Non-GAAP Measures.”

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THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(unaudited)

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