WESTERN UNION WILL PROVIDE ITS SERVICES VIA ABSA BANK

Western Union Co., a world leader in providing of money transfer services has announced about the starting of a joint venture together with Absa Group Ltd. In cooperation two companies will offer international money-transfer services to the customers of the South African bank.

According to Steve Booysen , CEO of Asba, the largest retail bank in South Africa, they are planning to offer Western Union services at more than 28 Absa branches by the end of this November, and later it will be available in other 200 outlets countrywide. The administrations of both companies are going to finish the launch of this program by the end of the next year.

The administration of WU said that Absa is a worthy partner and they are very glad to their collaboration. Today the bank has more than 9.4 million customers and their number continue growing. The bank is located in Johannesburg and is fully controlled by the UK-based Barclays Plc.

According to the survey of the World Bank South Africa undergoes a rapid development. Comparing to the previous year statistics last year South Africa had 14% increase in inbound remittances, that is to $834 million and 11% increase in outbound remittances or $1.19 billion.