Western Union has posted a net income of $232.3m for the third quarter of 2015, a marginal fall of 1% compared to $234.2m a year ago.

For the third quarter ended 30 September 2015, the money-transfer company reported total revenue of $1.39bn, down 3% from $1.44bn in the year-ago quarter primarily due to the impact of the stronger US dollar.

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The group’s operating margin was 21.8%, which is consistent with the third quarter of 2014. Earnings per share were $0.45 compared to $0.44 in the year ago period.

Western Union said consumer-to-consumer (C2C) transactions increased 2% in the quarter, while C2C constant currency revenues grew 3%, while reported revenues declined 3%.

The rise in C2C constant currency revenue was driven by westernunion.com and the US outbound business.

For the third quarter of 2015, Westernunion.com C2C revenue was up 22%, or 28% constant currency, on transaction growth of 25%, while electronic channels revenue, which includes westernunion.com, account based money transfer through banks, and mobile money transfer, represented 7% of total company revenues.

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The company’s consumer-to-Business (C2B) revenues increased 6% in the third quarter, or 10% constant currency, driven by the Argentina walk-in and the US electronic bill payments businesses.

Western Union Business Solutions revenues increased 6% on a constant currency basis driven by Europe and Australia, and aided by strong sales of hedging products.

Western Union president and CEO Hikmet Ersek said: "U.S. outbound money transfer provided solid results and our westernunion.com online transaction sites, which are now activated in 33 countries, once again produced strong growth."

"We are also continuing to execute key strategic actions, such as launching the WU Connect platform and expanding our capabilities to transfer funds into accounts.

"Within our omni-channel strategy we currently have the ability to access hundreds of millions of accounts globally, adding to our distribution network of over 500,000 agent locations and 100,000 ATMs and kiosks."