Tag: Western Union

China Everbright Bank and Western Union sign agreement to offer money transfer in China

Posted by | Nov 5, 2007 | |

China Everbright Bank and The Western Union Company announced an agreement to offer money-transfer services at more than 300 China Everbright Bank branches in more than 30 cities in China. The service will be rolled out in the next few months.

Western Union’s representation agreement with China Everbright Bank will help extend Western Union’s global network of money-transfer services into cities throughout China, complementing the existing network and offering its customers even greater convenience.

China remains an attractive market for Western Union. According to the World Bank, China receives USD 22.5 billion in annual remittances, making it the third-largest remittance recipient country.

“Increasing numbers of Chinese people are moving to other parts of the world to study or work,” said Andrew Ong, regional vice president for Western Union, North Asia.

“Western Union’s Money Transfer service is trusted by customers to quickly and reliably receive money from, or send money to, family members or friends back home. Together with China Everbright Bank, the network is expanding into more economically developed cities. Both companies are able to increase choice and convenience for our customers, wherever they might live,” he added.

Zhang Yukuan, general manager of retail business at China Everbright Bank, added, “With our operating philosophy of ‘A Premier Bank with Diligent Financial Management’ in mind, we are committed to exceeding our clients’ demands and offering consistent, high-quality financial services. Our clients span over 36 major cities in 23 provinces. Launching money transfer services means we can provide our customers with premium-quality money transfers to and from more than 200 countries and territories.”

Western Union has had a presence in China since 1994 and currently has 25,000 locations through its cooperating partners China Postal Savings Bank and Agricultural Bank of China.

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Western Union extends partnership with Kenian Post Bank

Posted by | Oct 27, 2007 | |

Western Union money transfer has extended it partnership with Post Bank to continue offering money remittance service through the bank.

Hikmet Ersek Vice president for Europe Middle East and Africa says the Kenyan market is ripe for expansion.

Speaking at the signing of the agreement Ersek says Kenya is one of the firm biggest clients in the continent.

He further said they would continue exploiting existing opportunities in Order to expand their market share in the country. Western Union has been in the country for the last 12 years.

Money remittance business has grown at a rate of 17 percent to stand at 269 billion dollars as per last year.

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Western Union Signs Up Postbank Uganda

Posted by | Oct 22, 2007 | |

Post Bank Uganda has joined the ranks of four other local banks in the country as a fully-fledged Western Union money transfer agent.

The bank that has over the last three years undergone a number of changes and expansion aimed at delivering more value to its customers will add 22 agent locations to Western Union’s existing network of over 160 Agent locations in Uganda.

Diamond Trust, Crane, Barclays and Centenary banks are the other financial institutions providing Western Union service in Uganda.

“The key of Western Union’s business is a comprehensive and extensive network that operates hand-in-hand with reliable partners through localised resources, such as banks, post offices and even some retailers,” a statement quoted Mr. Hikmet Ersek, the executive vice president and managing director Western Union for Europe, Middle East, Africa and South Asia as saying.

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Western Union And GSMA To Create New Global Mobile Money Transfer Service

Posted by | Oct 18, 2007 | |

The GSM Association (GSMA), a global trade association representing over 700 GSM mobile phone operators, and The Western Union Company, a global money-transfer services, today announced an agreement to facilitate the development of cross-border mobile money transfer services.
Western Union and the GSMA are developing a commercial and technical framework that mobile operators can use to deploy services that enable consumers to send and receive low-denomination, high frequency money transfers using their mobile phones. The first commercial services that make use of the framework are anticipated to be rolled out beginning in the second quarter of 2008.
The framework forms a key element of both Western Union’s mobile strategy and the GSMA’s Mobile Money Transfer program which aims to use the reach and ease of mobile money transfer services to expand the mobile financial services market and stimulate social and economic development. Mobile money transfer services will make it simple, quick and affordable for more people to send small amounts of money through a conventional and regulated system. Both Western Union and the GSMA believe there is an opportunity to create and grow a large new market for low denomination transfers.
The Western Union mobile service will connect operators to Western Union’s existing global money transfer system, which processed approximately 17 percent of the world’s remittance volume in 2006. Once connected to the Western Union service, operators will be able to use their own ‘mobile wallet’ software to enable person-to-person mobile money transfers over Western Union’s cross-border remittance network. The Mobile Money Transfer service will enable consumers to transfer money to or from mobile wallets and will offer a global network of Western Union Agent locations for cash-to-mobile and mobile-to-cash transactions.
Thirty-five GSMA operators with more than 800 million customers in more than 100 countries are participating in the GSMA Mobile Money Transfer program. Led by Sunil Mittal, the Chairman and Managing Director of Bharti Airtel, the Mobile Money Transfer program is overseen by a steering committee made up of representatives from Bharti, MTN, Orange, Orascom, Smart, Telenor and VimpelCom.
Western Union and its affiliates provide money transfer services across 200 countries through a network of more than 312,000 Agent locations.

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Western Union teams with Wal-Mart Canada to offer Western Union Money Transfers(R) and Quick Collect(R) services

Posted by | Oct 16, 2007 | |

The Western Union Company and Wal-Mart Canada Corp., today announced an agreement to provide fast, reliable and convenient global money transfers and Quick Collect(R) services to consumers in Canada.

With a national, chain-wide rollout scheduled for completion in early 2008, Western Union(R) services will be available effective today at select Wal-Mart stores throughout the Greater Toronto area. Wal-Mart Canada currently operates 287 stores coast to coast, serving more than 1 million Canadians daily.

“Customers turn to Wal-Mart for convenience and value – and we are constantly looking for ways to introduce new services at everyday low prices,” said Trudy Fahie, Vice President Financial Services, Wal-Mart Canada Corp. “Through this relationship with Western Union, our customers can enjoy the best overall value when it comes to choosing a money-transfer service provider.”

Through Wal-Mart Canada, Western Union will offer consumers the ability to send and receive Western Union Money Transfers(R) transactions to over 200 countries and territories. The Western Union Quick Collect(R) service enables consumers to send payments for their mortgages, credit-card bills, as well as car and consumer loans using cash or a debit card at Wal-Mart Canada stores.

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