We remain confident in our ability to exceed $1 billion of digital revenue in 2021, supported by continued strong growth in our wu.com business and our digital partnership business.
Today, we separately announced that, we reached a definitive agreement to sell our Business Solutions business to Goldfinch Partners and the Baupost Group for $910 million.
With the planned sale of Western Union Business Solutions, which was approximately 7% of total company revenue during the last 12 months ended June 30th, 2021, now we will be fully focused on increasing our penetration of the global cross-border consumer payments market, expanding our digital partnership business and increasing our total addressable market, through our Western Union branded ecosystem strategy.
On a year-to-date basis, our new agent signings will expand our network by approximately 18,000 retail locations.
We have also renegotiated contracts with over 50 agents' year-to-date, reflecting our commitment to optimize commissions.
Finally, we continue to enhance our global account payout capabilities, which is now available in over 125 countries with real-time capabilities in approximately 100 countries.
Over 60% of our global account payout transaction volume was delivered real-time.
During the quarter, we saw continued strength in principal per transaction or PPT with growth over 11% and cross-border total principal growth of 29%, benefiting from continued demand for support in received markets and improving economic and employment trends in central regions like the U.S. and Western Europe.
Total company revenue grew 16% or 13% on a constant currency basis, with underlying trends aided by continued growth in our digital business and sequential improvement in the retail business.
C2C revenues and transactions, each grew 15% in the quarter with C2C revenue growing 12% on a constant currency basis.
Digital revenues were up from the first quarter and grew 22% year-over-year to over $265 million with quarterly highs for revenue, transactions and principal.
Digital comprised 36% of transactions and 24% of revenues for the C2C segment.
Wu.com results were healthy with transaction growth over 18%, driven by 14% growth in average monthly active users.
Wu.com continue to lead money transfer appears in mobile app downloads by a wide margin and grow principle over 30%.
Our domestic and international money transfers, bill payments and money order services are now available in nearly 4,700 Walmart stores across the US.
Moving to the second quarter results, revenue of $1.3 billion increased 16%, on a reported basis or 13% constant currency.
Currency translation, net of the impact from hedges benefited second quarter revenues by approximately $29 million compared to the prior year.
In the C2C segment, revenue increased 15%, on a reported basis or 12% constant currency, with transaction growth partially offset by mix.
B2C transactions grew 15% for the quarter led by 33% transaction growth in digital money transfer, and supported by growth in retail money transfer, which improved sequentially, particularly in North America and Europe and CIS.
Total C2C cross-border principal increased 29% on a reported basis or 25% constant currency driven by growth in retail and digital money transfer.
Total C2C Principal per Transaction or PPT was up 11% or 8% constant currency.
Digital money transfer revenues which include wu.com and digital partnerships increased 22% on a reported basis or 19% constant currency.
Wu.com revenue grew 18% or 15% constant currency on transaction growth of 18%.
Wu.com cross-border revenue was up 23% in the quarter.
Moving to the regional results, North America revenue increased 4% on both a reported and constant currency basis, on transaction growth of 3%.
US domestic money transfer represented approximately 4% of total C2C revenue in the quarter.
Revenue in the Europe and CIS region increased 18% on a reported basis or 10% constant currency on transaction growth of 26%.
Revenue in the Middle East, Africa and South Asia region increased 19% on a reported basis or 18% constant currency, while transactions grew 22%.
Revenue growth in the Latin America and Caribbean region was up 70% or 68% constant currency on transaction growth of 42%.
Revenue in the APAC region increased 20% on a reported basis or 13% constant currency led by the Philippines and Australia.
Transactions increased 3% with the Philippines driving the difference between constant currency revenue and transaction growth.
Business Solutions revenue increased 25% on a reported basis or 16% constant currency, benefiting from favorable comparisons to prior year.
The segment represented 8% of company revenues in the quarter.
Other revenues represented 5% of total company revenues and increased 8% in the quarter.
The consolidated GAAP operating margin in the quarter was 19.8% compared to 19.
9% in the prior year period.
While the consolidated adjusted operating margin was 20.2% in the quarter compared to 20.4% in the prior year period.
Foreign exchange hedges had a negative impact of $2 million on operating profit in the current quarter and a benefit of $7 million in the prior year period.
B2C operating margin was 20.7% compared to 21.8% in the prior year period.
Business Solutions operating margin was 10.9% in the quarter compared to 1.6% in the prior year period.
Other operating margin was 16.2%, compared to 21.9% in the prior year period, with the decrease driven by higher M&A expenses, related to the divestiture of Western Union Business Solutions announced today.
The GAAP effective tax rate in the quarter was 14.5%, compared to 16.2% in the prior year period, while the adjusted effective tax rate in the quarter was 14.2%, compared to 15.7% in the prior year period.
GAAP Earnings per Share or earnings per share was $0.54 in the quarter compared to $0.39 and in the prior year period, while adjusted earnings per share was $0.48 in the quarter compared to $0.41 in the prior year period.
The net impact of these two items was a $0.07 benefit to GAAP earnings per share in the quarter.
Turning to our cash flow and balance sheet, year-to-date cash flow from operating activities was $349 million.
Capital expenditures in the quarter were approximately $48 million.
At the end of the quarter, we had cash of $1.1 billion and debt of $3 billion.
We returned $171 million to shareholders in the second quarter, consisting of $96 million in dividends and $75 million in share repurchases.
The outstanding share count at quarter end was 407 million shares.
And we had $633 million remaining under our share repurchase authorization, which expires in December of this year.
The sales price of $910 million is expected to generate in excess of $800 million in proceeds, net of tax in 2022 and result in a gain on sale.
As a reference point, during the last 12 months ended June 30th, 2021, the Business Solutions segment generated revenue, EBITDA and operating profit of $374 million, $64 million and $33 million, respectively.
Turning to our outlook for 2021, the outlook we provided today assumes moderate improvement in macroeconomic conditions as the quarters' progress in line with current prevailing macroeconomic forecast with no material changes related to the COVID-19 pandemic.
We reaffirmed our expectations for revenue growth, including our expectation that the digital business will achieve over $1 billion in revenue this year.
The pension plan termination is expected to accelerate the recognition of approximately $110 million of non-cash expenses on a pre-tax basis, lowering GAAP earnings per share by approximately $0.22 in the fourth quarter and will be recorded to other expense in the P&L.
With our plan over funded by more than $35 million as of June 30, we believe it is a good time to transition the plan to an annuity provider.
GAAP operating margin is expected to be approximately 21% and adjusted operating margin is expected to be approximately 21.5% with the difference attributable to M&A costs.
GAAP earnings per share for the year is now expected to be in a range of $1.82 to $1.92, which now reflects the impact of pension plan termination expenses and M&A costs.
Adjusted earnings per share is still expected to be in the range of $2 to $2.10.
We continue to expect to generate over $1 billion in digital revenue this year, along with a relatively stable retail business.
With respect to margins, we expect the margin for the second half of the year will be above our full-year adjusted margin outlook of approximately 21.5%, primarily driven by expected higher revenue levels.

Summary:
C2C revenues and transactions, each grew 15% in the quarter with C2C revenue growing 12% on a constant currency basis.
Moving to the second quarter results, revenue of $1.3 billion increased 16%, on a reported basis or 13% constant currency.
In the C2C segment, revenue increased 15%, on a reported basis or 12% constant currency, with transaction growth partially offset by mix.
GAAP Earnings per Share or earnings per share was $0.54 in the quarter compared to $0.39 and in the prior year period, while adjusted earnings per share was $0.48 in the quarter compared to $0.41 in the prior year period.
Turning to our outlook for 2021, the outlook we provided today assumes moderate improvement in macroeconomic conditions as the quarters' progress in line with current prevailing macroeconomic forecast with no material changes related to the COVID-19 pandemic.
Adjusted earnings per share is still expected to be in the range of $2 to $2.10.