The Western Union Company, a leader in global payment services, has expanded its remittance business in Myanmar through nine local banks, the company said.
The announcement, which coincided with the company’s one-year anniversary celebrations in Myanmar early this month, marked a sharp increase in the number of agents from 100 in key commercial towns to 460 across the country.
Western Union is one of the first global money transfer companies to provide service in Myanmar, paving the way for formalized international money transfers after sanctions were eased in 2012. With more than 460 agents now, Western Union is the largest international money transfer network in the country.
In Vietnam, Western Union cooperates with more than 30 banks to provide around 8,600 outlets.
Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world.
As of March 31, 2014, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of more than 500,000 agents in 200 countries and territories and more than 100,000 ATMs.
Last year, the Western Union Company completed 242 million consumer-to-consumer transactions worldwide, moving US$82 billion of principal between consumers, and 459 million business payments.
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