Western Union announced that they have signed on with AlexBank of Egypt to provide customers with Western Union money transfer services, reported CPI Financial. This agreement means that Western Union now has three agents in its Egyptian network. They will now operate in over 200 agent locations.
AlexBank will launch Western Union’s services in 50 branches in the country. Consumers will be able to send and receive money from any of the 50 locations, which will expand to 120 by the end of Q1 in 2014.
Jean Claude Farah, senior VP at Western Union MENA, said, “Western Union connects consumers in some of the most remote corners of Egypt, and 515,000 retail locations in 200 countries and territories. This agreement with AlexBank consolidates our market presence, taking our agent locations to over 200 owing to their nationwide network of branches. Over 6 million Egyptians live abroad, a number that’s continuously growing, and so is the need for a money transfer service that’s reliable and easy to use but also convenient in terms of accessibility for the sender and the receiver.”