Despite a disappointing forecast for the coming year, the world's largest money-transfer company can pay off for patient investors.

WHILE A DOWNBEAT FORECAST has Wall Street troubled about the prospects for Western Union (ticker: WU), the world's largest money-transfer business can still deliver attractive returns, if investors are patient.

The company, spun off from First Data in 2006, does a brisk business handling money transfers for foreign workers here and abroad who are sending money home to friends and family.

But with demand for money transfers still pressured by a sluggish economy and high unemployment in the U.S. and elsewhere, Western Union sounded a cautious note during a conference call today that sent investors running.

At one point, the share price fell as much as 11%, the most in almost 12 months.

Nevertheless, Western Union remains a strong global franchise, not to mention an enormously profitable business capable of generating piles of cash. So with the global recession near an end, future prospects look good.