The world’s largest remittance player Western
Union will be providing account-based money transfer (ABMT)
services in France to account holders of La Banque Postale, the
banking subsidiary of La Poste Group.
Customers who have accounts at La Banque
Postale will be able to conduct international money transfers
through La Banque Postale’s website for cash payout at any of
Western Union’s 470,000 agent locations in more than 200 countries
and territories. The ABMT service will go into effect on 15
November.
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Funds transferred will be available for
collection in cash within minutes. The service is offered
exclusively online and will be available 24 hours a day and 7 days
a week. Customers will be offered this banking service for a
competitively priced fee.
The new service is part of both Western
Union’s and La Banque Postale’s online channels strategy.
La Banque Postale has been a Western Union
agent in Europe and a leader in France among providers of
international person-to-person money transfer services.
In April, a joint co-branded bank card was
issued, due to the cooperation between Western Union and La Banque
Postale, combining the features of a traditional bank card with
those of the Western Union loyalty card. Approximately 64,000
co-branded cards have been issued as of 1 October.
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By GlobalDataIn 2010, Western Union completed 214m
consumer-to-consumer transactions worldwide, moving $76 billion of
principal between consumers.
