Empresas y finanzas
Western Union Secures Top Agents for Philippines Market
The Western Union Company (NYSE: WU), a global leader in money
transfer services, has signed new, multi-year agreements with three of
its top agents in the Philippines to offer Western Union(R) money
transfer services. The three companies - Universal Storefront Services
Corporation, e-Business Services Inc and PETNET Inc - together
represent nearly 4,800 Western Union Agent locations in the
country(1).
In addition, the company has increased its existing footprint with
the addition of three new agents in the Philippines: Direct Agent 5
Inc., a consortium of consumer service enterprises; JP Tambunting
pawnshops and Davao-based retail chain EMCOR Incorporated.
"The Philippines is a very important market for Western Union,"
said Mr. Ian Marsh, Executive Vice President, Asia Pacific, The
Western Union Company. "Outside of the United States, it is second
only to Mexico for inbound remittances and has tremendous growth
potential as both a key receive and intra-country market."
The Philippines is the fourth largest receiver of remittances in
the world, according to the World Bank(2). The Bangko Sentral ng
Pilipinas (Philippines Central Bank) estimates that remittances from
overseas will exceed $14 billion this year. There are currently over
eight million Filipino workers overseas(3).
"Together, e-Business, PETNET and USSC, have 38 years of
experience offering Western Union money transfer services. Their
continued commitment to consumers, will be complimented by the
addition of our newest Agent locations, creating even greater levels
of convenience and choice for consumers, allowing Western Union to
continue delivering on its promise of service quality," Marsh added.
About Western Union
Western Union (NYSE: WU), together with its affiliates Orlandi
Valuta and Vigo, is a leading provider of global money-transfer
services, providing people with fast, reliable and convenient ways to
send money around the world, pay bills and purchase money orders
through a network of more than 312,000 Agent locations in over 200
countries and territories. For more information, visit
www.westernunion.com.
About E-Business Services Inc
eBusiness Services Inc.,(eBiz) a fully owned subsidiary of
iVantage Corp., a publicly listed company, was Western Union's first
network agent in Asia Pacific. With Western Union money remittance as
its core business, eBiz completes its offering of financial services
to its local communities with other services like mutual funds, money
exchange services, Visa cash cards, Bayad Center payment system and
cell phone loading stations. eBiz has a nationwide network of
company-owned locations and sub-agents locations in almost every town
and city of the country.
About Petnet Inc
PETNET was established in 1998 with a mandate to expand the
Western Union network in the Philippines. Today, it has the largest
network in the country in cooperation with 400 business partners
including rural banks, pawn shops, business centers, money changers,
co-ops, and supermarkets. PETNET has been recognized as the fastest
growing Western Union agent for the Asia Pacific Oceania region for
the last 2 years. It has also been cited for public service, being a
key player in providing free heart surgery for indigent minors.
About Universal Storefront Services Corporation
USSC-owned stores branded as "RCPI" are strategically located
nationwide to form an efficient distribution network that helps to
meet the growing needs of the country's urban and rural communities.
USSC's RCPI stores service customers of Western Union Money Transfer,
Airline and SuperFerry Tickets, Prepaid Cellphone Load, Bayad Center,
Domestic & International Fax, and Long Distance. The company has been
an agent for Western Union Money Transfer for 12 years, winning the
Western Union Asia Pacific Agent of the Year award in 2001 and 2003.
It has also been the recipient of numerous sales awards from its
airline and sea line principals.
(1) Network data as of September 1, 2007
(2) Source: World Bank Migration and Remittance Factbook June 2007
(3) Source: Data from December 2004 Estimates prepared by the
Commission on Filipinos Overseas from CFO, DFA, POEA and other sources
covering 194 countries/territories.
WU-G