Presentation of The Western Union Company dated April 22, 2008

First Quarter 2008

Earnings Webcast & Conference Call

April 22, 2008

Exhibit 99.2

Gary Kohn

Vice President Investor Relations

Safe Harbor

This presentation contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of

1995.

These

statements

are

not

guarantees

future

performance

and

involve

certain

risks,

uncertainties

and

assumptions

that

are

difficult

predict.

Actual

outcomes

and

results

may

differ

materially

from

those

expressed

in,

implied

by,

our

forward-looking

statements.

Words

such

“expects,”

“intends,”

“anticipates,”

“believes,”

“estimates,”

“guides,”

“provides

guidance”

and

other

similar

expressions

future

conditional verbs such as “will,”

“should,”

“would”

and “could”

are intended to identify such forward-looking statements. Readers of this

presentation

The

Western

Union

Company

(the

“Company,”

“Western

Union,”

“we,”

“our”

“us”)

should

not

rely

solely

the

forward-

looking

statements

and

should

consider

all

uncertainties

and

risks

discussed

under

“Risk

Factors”

included

within

the

Annual

Report

Form

10-K

for

the

year

ended

December

31,

2007.

The

statements

are

only

the

date

they

are

made,

and

the

Company

undertakes

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 geographic regions and industries in which we

operate;

changes

immigration

laws,

patterns

and

other

factors

immigrants;

technological

changes,

particularly

with

respect

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; our ability to attract and retain

qualified

key

employees

and

successfully

manage

our

workforce;

changes

foreign

exchange

rates,

including

the

impact

the

regulation

of foreign exchange spreads on money transfers; adverse movements and volatility in debt and equity capital markets; political conditions and

related actions by the United States and abroad which may adversely affect our businesses and economic conditions as a whole; failure to

maintain

sufficient

amount

types

regulatory

capital

meet

the

changing

requirements

our

various

regulators

worldwide;

continued

growth in the money transfer market and other markets in which we operate at rates approximating recent levels; implementation of agent

contracts according to schedule; our ability to maintain our agent network and biller relationships under terms consistent with 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; successfully managing credit and

fraud risks presented by our agents and consumers; adverse rating actions by credit rating agencies; liabilities and unanticipated developments

resulting from litigation and regulatory investigations 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 jurisdictions; changes in industry standards affecting

our business; changes in accounting standards, rules and interpretations; competing effectively in the money transfer industry with respect to

global

and

niche

corridor

money

transfer

providers,

banks

and

other

nonbank

money

transfer

services

providers,

including

telecommunications providers, card associations and card-based payments providers; our ability to grow our core businesses; our ability 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; successfully managing 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

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

other

countries;

decisions

change

the

business

mix;

cessation

various

services

provided

third-party vendors; catastrophic events; and management’s ability to identify and manage these and other risks.

Christina Gold

President & Chief Executive Officer

Strong First Quarter Results

Revenue

$1.27B up 12%

consecutive

quarter of organic revenue

growth acceleration

•

C2C revenue and transactions up 14%

•

International C2C revenue and transactions up 19%

–

International (excluding U.S.-originated)

•

Revenue up 28%, transactions up 29%

•

Stability of Mexico business

Strong First Quarter Results

EPS, ex restructuring

$0.29 up 16%

EPS, reported

$0.27 up 8%

Note: See appendix for reconciliation of Non-GAAP to GAAP measures.

Driving Success

Huge Market Opportunity

Unmatched Distribution

Financial Strength

Brand Recognition

Q1 08 Growth in Top Remittance Markets

India

52%

65%

Revenue

Transactions

Chinese New Year Promotional Materials

India and China represent 6% of Western Union revenue

China

35%

22%

1. Grow the C2C Business

•

Increase distribution

–

345,000 agent locations

–

Key signings and renewals

–

Vigo international expansion

•

Brand strategy

–

Extending the brand

–

Loyalty initiatives

•

Expand distribution channels

–

westernunion.com

–

Scotiabank

2. Expand the C2B Business

•

Pago Fácil

performing well

–

Expanding footprint in Latin America

•

Small business payment options

–

www.globalbusinesspayments.com

•

Yodlee

Partnership

3. Innovate New Services

and Technologies

3. Innovate New Services

and Technologies

•

Mobile Money Transfer

–

Customer pilot test to begin in Q2 with:

•

Globe Telecom & Smart Communications in the

Philippines

–

Expanded Radio Shack, Trumpet mobile offering

•

Micro Lending

–

Marketing to select Western Union customers

–

Pilot test in process with PrimeCredit

4. Focus on Profitability

•

Operating income margin improvement is an ongoing

objective

•

Goal to improve 2009 margin by up to 50 basis points

•

Maintain important investments in the business

Strong First Quarter

•

Solid financial results

•

Loyal customers

•

Global presence

•

World-class team of agents and employees

Scott Scheirman

Executive Vice President & CFO

Strong First Quarter Results

Revenue

$1.27B up 12%

EPS, ex restructuring

$0.29 up 16%

Geographically diverse revenue stream

EPS, reported

$0.27 up 8%

Note: See appendix for reconciliation of Non-GAAP to GAAP measures.

Imported Labor Drives Growth

•

UAE –

Huge opportunity

–

Native Population = 1 million

–

Expatriates = 4 million

–

Home to 16% of the world’s

construction cranes

Dubai decades ago

Dubai today

Transaction Fee

Components of Revenue

$ in millions

10%

Q1 07

Q1 08

$1,021

$930

26%

Foreign Exchange

Q1 07

Q1 08

$210

$167

Foreign

exchange

revenue

driven

international

transaction

growth

Operating Income Margin

•

Q1 operating income margin impacted by:

–

Restructuring expenses

–

C2B product mix shift

•

Expect 2008 operating income margin

excluding restructuring expenses to be

consistent with 2007

•

Operating income margin stronger in second

half

Profitability Initiatives

•

Q1 Restructuring expense = $24 million

–

$17 million related to the transition of Missouri and

Texas operations

–

$7 million related to January and February actions

•

Full-year 2008 restructuring expenses

estimated at $69 million

•

Expected savings of $10 million in 2008 and

over $30 million annually in 2009 and beyond

Objective is margin expansion of up to 50 basis points in 2009

Selected Financial Results

Q1 2008 Q1 2007 % Change

$ in billions except for per share

and tax rate information

Excluding

Restructuring

Expense

Note: See appendix for reconciliation of Non-GAAP to GAAP measures.

Revenue

1.266

1.131

12%

Cost of Services

0.759

0.646

17%

14%

SG&A

0.198

0.181

10%

Operating Income

0.309

0.305

Total other expense, net

(0.017)

(0.023)

(25%)

Tax Rate

29.2%

31.5%

230 bps

Net Income

0.207

0.193

15%

Diluted EPS

0.27

0.25

16%

Strong Cash Generation and Position

Investing

the

business

and

returning

capital

shareholders

Q1 2008

$ in millions

Cash Flow From Operations

318

Cash Balance on March 31

1,895

Capital Expenditures

Stock Repurchases

14 Million Shares

297

Remaining for buyback March 31

956

Consumer-to-Consumer

Revenue

$1,054

14%

Q1 2008

Change

Transactions

43.1

14%

Operating income

$273

15%

Operating margin

25.9% +10bps

(millions)

Consumer-to-Consumer Growth

Revenue

Transactions

Mexico

1% 2%

Domestic

(8%) (3%)

International

19% 19%

International excluding

U.S. Outbound

28%

29%

Q1 08

Consumer-to-Business

Revenue

$190 4%

Q1 2008

Change

Transactions

103.5 3%

Operating income

$56 (8%)

Operating margin

29.6% (380bps)

(millions)

2008 Financial Guidance

9% to 11%

$1.25 to $1.29

$1.2 Billion

Note: See appendix for reconciliation of Non-GAAP to GAAP measures.

EPS, Excluding $0.06 of restructuring

expenses, and including $0.01 in cost savings

Revenue Growth

Cash Flow from Operations

$1.19 to $1.23

GAAP EPS

<$200 Million

Capital Expenditures

Summary

•

International strength driving revenue and earnings

•

Important cost-savings measures implemented

•

Strong cash flow in 2008

•

Cash priorities remain:

•

Grow the business

•

Make acquisitions

•

Return capital to shareholders primarily through stock

buyback

Confident in the state of the business and our 2008 objectives

Questions and Answers

Driving Success

Huge Market Opportunity

Unmatched Distribution

Financial Strength

Brand Recognition

First Quarter 2008

Earnings Webcast & Conference Call

April 22, 2008

Appendix

Western

Union’s

management

has

presented

revenue

growth

excluding

the

foreign

currency

translation

impact

euro

denominated

revenues.

addition,

Western

Union's

management has presented cost of services as a percent of revenue, operating income

margin, and growth rates for cost of services, selling, general and administrative

expense, and operating income, excluding restructuring and related expenses. Western

Union's management has also presented earnings per share, net income and earnings

per share growth, and Western Union's 2008 earnings per share guidance excluding

restructuring and related expenses. In presenting Western Union's 2008 earnings per

share growth guidance, excluding restructuring and related expenses, Western Union's

management has excluded from the Company's 2007 earnings per share, the

accelerated non-cash SFAS No. 123R accounting for stock-based compensation charge,

resulting from the acquisition of First Data by an affiliate of Kohlberg, Kravis, Roberts &

Co. ("KKR") in the third quarter of 2007. We believe these non-GAAP measures

provide meaningful supplemental information regarding our operating results to assist

management,

investors,

analysts,

and

others

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

complete

understanding

our

business.

Users

the

financial

statements

are

encouraged

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

in the appendix on the following slides.

Non-GAAP Measures

(unaudited)

THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

2008

2007

Growth

$ 1,265.9

$ 1,131.0

12%

Benefit from euro translation (a)

(32.9)

$ 1,233.0

$ 1,131.0

2008

2007

$ 207.1

$ 193.2

Restructuring and related

expenses, net of income tax benefit

of $9.1 million (b)

15.1

$ 222.2

$ 193.2

As reported (GAAP)

$ 0.27

$ 0.25

Restructuring and related

expenses (b)

0.02

Adjusted

$ 0.29

$ 0.25

Net income, as reported (GAAP)

Net income, adjusted

15%

EPS, as reported (GAAP)

EPS, adjusted

16%

Refer to footnote explanations at the end of this "Reconciliation of Non-GAAP Measures" section.

Growth:

Net income as reported (GAAP)

Adjustment:

Net income adjusted

Earnings per share ("EPS"):

Three Months Ended

March 31,

Revenue adjusted

Revenue as reported (GAAP)

Adjustments:

Three Months Ended

March 31,

(unaudited)

THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

As reported

Restructuring and

(GAAP)

Related Expenses (b)

Adjusted

Revenues

$ 1,265.9

Cost of services

758.6

(22.4)

736.2

Selling, general and administrative

198.0

(1.8)

196.2

Operating income

309.3

24.2

333.5

Net income

$ 207.1

$ 15.1

$ 222.2

Operating income margin

24.4%

1.9%

26.3%

Cost of services

17%

-3%

14%

Selling, general and administrative

10%

-1%

Operating income

Cost of services as a percent of revenue

60%

-2%

58%

Refer to footnote explanations at the end of this "Reconciliation of Non-GAAP Measures" section.

Three Months Ended March 31, 2008

Growth:

(unaudited)

THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(in millions)

EPS Guidance

2008 EPS Guidance GAAP basis

1.19

$ 1.23

Adjustment:

Estimated restructuring and related expenses,

net of income tax benefit (b), (c)

0.06

$ 1.25

$ 1.29

2007 EPS as reported (GAAP)

$ 1.11

Adjustment:

Accelerated non-cash stock compensation

vesting charge, net of income tax benefit (d)

0.02

Adjusted 2007 EPS

$ 1.13

Earnings per share growth:

2008 EPS guidance (GAAP) compared to 2007

EPS as reported (GAAP)

11%

Non-GAAP 2008 EPS guidance, excluding

estimated 2008 restructuring and related

expenses, compared to adjusted 2007 EPS,

excluding accelerated non-cash stock

compensation vesting charge

11%

14%

Refer to footnote explanations at the end of this "Reconciliation of Non-GAAP Measures" section.

Range

Adjusted 2008 EPS Guidance, excluding estimated

restructuring and related expenses

THE WESTERN UNION COMPANY

RECONCILIATION OF NON-GAAP MEASURES

(d) In the third quarter of 2007, the Company recognized a $22 million or a $0.02 per share non-cash charge in accordance with

SFAS No. 123R accounting for stock-based compensation resulting from the previously announced acceleration of vesting in

Western Union stock options and awards granted to current Western Union employees prior to the spin-off from First Data. Under

the terms of the plan, vesting was accelerated for these options and awards as a result of the change of control that occurred when

an affiliate of KKR acquired First Data, Western Union's former parent company, on September 24, 2007.

(b) Restructuring and related expenses incurred in the three months ended March 31, 2008 include $24.2 million of expenses and

an estimated $69 million of expenses for 2008. These expenses relate to severance, outplacement and other employee related

benefits; facility closure and migration of our IT infrastructure; other expenses related to relocation of various operations to existing

Company facilities and third party providers, including hiring, training, relocation, travel, and professional fees; and increased

security costs at the facilities being closed. Also, included in the facility closure expenses are non-cash expenses related to fixed

asset and leasehold improvement write-offs and acceleration of depreciation and amortization. The restructuring and related

expenses are included in cost of services and selling, general and administrative expense lines in the income statement, and are

not allocated to the segments.

(c) Represents estimated 2008 restructuring and related expenses of $69 million. For purposes of calculating the "Adjusted 2008

EPS guidance, excluding estimated restructuring and related expenses," the EPS impact of $0.06 is net of an estimated income tax

benefit of $26 million.

(a) Represents a benefit in the fluctuation in the exchange rate between the euro and the United States dollar. This benefit would

not have occurred had there been a constant exchange rate, and was net of the impact of our foreign currency hedges.

Restructuring Expenses

During the quarter, Western Union incurred a total of $24 million in restructuring expenses. Of

this total, $17 million is related to the company’s decision to close substantially all of its union

operating facilities in Missouri and Texas as disclosed on March

20. The restructuring

expenses related to this decision are expected to total approximately $60 million in 2008.

In separate actions taken in the first quarter, the company incurred $7 million in restructuring

expenses related to the elimination or relocation of other positions. Of this total, $5 million was

previously disclosed and incurred in January, and an additional $2 million was incurred in

February when additional cost-saving initiatives were identified. An additional $2 million of

restructuring expenses will be recognized in the second quarter related to these initiatives.

The company estimates that all first quarter restructuring initiatives will result in full-year

restructuring expenses of $69 million, and will deliver cost savings in 2008 of $10 million and

more than $30 million in 2009. Of the $24 million in restructuring expenses, $22 million was

allocated to cost of services and $2 million was allocated to selling, general and administrative

expense. The restructuring expenses were not allocated to the segments.

Restructuring expenses include expenses related to severance, outplacement and other

employee related benefits; facility closure and migration of IT infrastructure; other expenses

related to relocation of various operations to existing company facilities and third party

providers, including hiring, training, relocation, travel, and professional fees; and increased

security costs at the facilities being closed. Also, included in the facility closure expenses are

non-cash expenses related to fixed asset and leasehold improvement write-offs and

acceleration of depreciation and amortization.

Use of Material

The information contained in this presentation is being provided

for your convenience and information only. This information is

accurate as of the date of its initial presentation, April 22, 2008.

If you plan to use this information for any purpose, verification of

its continued accuracy is your responsibility. The Western

Union Company assumes no duty to update or revise the

information contained in this presentation. You may reproduce

information contained in this presentation provided you do not

alter, edit, or delete any of the content and provided you identify

the source of the information as The Western Union Company