> Offers Remittance Services in 11 CIS Countries
Dubai, 22 July, 2012 – Xpress Money, the fastest growing instant money transfer service in the GCC, announced today its collaboration with Commercial Bank UNISTREAM, to offer remittance services across 11 Commonwealth of Independent States (CIS).
As part of the tie-up, Xpress Money will add more than 20,000 outlets via UNISTREAM to its existing 9,000 active locations in the region. The new openings will take the total number of outlets in Xpress Money‘s CIS network to 29,000 and its global network to 155,000 outlets. In the CIS, Xpress Money operates in Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine and Uzbekistan.
Sudhesh Giriyan, Head of Xpress Money Business, said: “We continuously introduce new access channels to meet the growing needs of customers and offer them greater convenience. As a brand, we want to be able to provide the best value to our customers, whether they are the ones sending the money or receiving it. Our alliance with UNISTREAM will help people across several CIS countries to send and receive money to and from the GCC efficiently. We are adding more locations rapidly and innovating with our service offerings so that more people can send or receive money fast.”
“For the past 12 months, UNISTREAM has made great progress on the international development front. Significant projects have been finalized in Asia and Europe. We saw our network grow to 330 000 outlets in over 100 countries. Collaboration with Xpress Money is another important milestone in our international development. It is a great effort in the development of the GCC – CIS corridor where our partnership will be one of the leaders,” said Souren Hayriyan, President, UNISTREAM.
Funds transferred using Xpress Money – UNISTREAM locations require about 12 to 24 hours to be credited into the recipient’s account. During remittance, senders will be provided with a unique 16-digit Xpress Personal Identification Number (XPIN) that they need to share with the beneficiary. Once the amount is credited, senders receive a confirmation via SMS.
Currently, customers can only remit money from the GCC to CIS countries though Xpress Money‘s network. The reverse integration of the Xpress Money system is underway and will allow them to send money from the CIS countries to the GCC shortly.
About Xpress Money:
Xpress Money is a global money transfer brand with a thriving presence in more than 125 countries in 5 continents across 155,000 agent locations across the world. Working towards the goal of Bringing Home Closer to millions of migrants residing away from their homes, Xpress Money has come to be known as the most dependable international money transfer brand. Xpress Money provides its customers a simple, fast & safe way to transfer money anywhere in the world through innovative technology, superior customer service and its extensive worldwide network. For more information, visit www.xpressmoney.com
UNISTREAM is an international money transfer provider. Moscow-headquartered, the system operates 330 000 locations in over 100 countries. The system has rapidly been transforming itself into a solid international market player significant projects have recently been realized in Asia, GCC, Europe and CIS where the system is one of the leaders. In the EU, UNISTREAM develops its own networks through affiliated companies in UK, Germany, Greece and Cyprus. In 2011, the system processed over 7 million transactions worth $4.7 bln.