Qatar PR Network, Online Press Release from qatar and Doha city
 
Trade & Commercial(Others)
Filter PR by
  
Xpress Money registers a 10% growth in 2017
 
Xpress Money registers a 10% growth in 2017

Remittances from the GCC remain strong; 2018 expected to witness continued growth 

Dubai, February 5, 2018:   Xpress Money, one of the world’s most dependable money transfer brands, witnessed a 10% growth in its global operations in 2017. The growth was backed by new partnerships in crucial corridors, innovative solutions, and a global expansion in the Xpress Money agent network. 

Xpress Money’s traditional corridors from GCC remained strong. From the UAE, Philippines, Pakistan, India, Bangladesh and Egypt, were the top remittance receiving corridors. Pakistan, Bangladesh, India, Philippines and Jordan received the highest remittances from Oman. The second quarter of 2017 witnessed the highest number of transactions owing to the month of Ramadan. In UAE, the second quarter saw the highest number of transactions, which accounted for 27.2% of the total number of transactions from the country. Similarly in Oman, the second quarter accounted for 25.9% of the total transactions sent out from Oman.   

“2017 showed positive signs for the remittance industry as a whole. The year witnessed a better growth than the previous years. The depreciation of certain Asian currencies, such as the Filipino peso, Pakistan rupee, and Indian rupee against a strong US dollar encouraged expats from these countries to send more money.

It’s an affirmation of the region’s popularity of being a sought after destination for expats from around the world. We are extremely optimistic about 2018 as well. Despite VAT being applied in some countries in the region, we are certain that remittances from the region will continue to rise. From our perspective, Xpress Money will continue to work towards creating more secure and convenient remittance solutions for customers through new partnerships and technology”, said Sudhesh Giriyan, COO, Xpress Money. 

In 2017, Xpress Money expanded their services and network with key partnerships, especially in African countries. In a landmark deal, the brand partnered with Huawei to drive mobile money services to more of the worlds unbanked, especially in Africa. The partnership offers  Xpress Money access to Huawei’s mobile money service platform, which has over 100 million mobile money accounts globally. Xpress Money also partnered with TerraPay to provide mobile wallet transfers to people in Uganda and Nigeria.  

 

Posted by : Qatar and Doha City PR Network Editorial Team
Viewed 152433 times
PR Category : Others
Posted on : Monday, February 5, 2018  10:13:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of QatarPRNetwork.com.
Previous Story : Dubai-based Al Kasir Group launches three Crypto assets back...
Next Story : Elecrama networking evening set to take place at the Grand H...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Preventing Famine and Deadly Disease Outbreaks in Gaza Requires Faster, Safer Aid access and more Su... [22245-Views]
Royal Commission for AlUla's Governor Formally Inaugurates Qatar Airways Direct Flight connecting Do... [16255-Views]
Qatar Airways Commemorates Network Expansion in Saudi Arabia with Special Ceremony in AlUla [14723-Views]
Visit Qatar Showcases “Hayyakum Qatar” in Riyadh Boulevard [14013-Views]
EASA Partners with IATA to Counter Aviation Safety threat from GNSS Spoofing and Jamming [13988-Views]
Air Cargo Demand Surges 10.8% in December, Closing 2023 Near 2022 Levels [13928-Views]
Winners Revealed for “TRT World Citizen Awards” [13796-Views]
Oman's Smart Vision Summit Gains Momentum with XS.com as Global Sponsor [12167-Views]
STATEMENT BY PRINCIPALS OF THE INTER-AGENCY STANDING COMMITTEE - CIVILIANS IN GAZA IN EXTREME PERIL ... [8785-Views]
IATA and The Weather Company Collaborate to Provide Enhanced Turbulence-Related Weather Data to Airl... [8636-Views]
2023 Safest Year for Flying By Several Parameters [5344-Views]
Emirates Post and Qatar Post sign strategic agreement to facilitate product shipping between both co... [3524-Views]
IPH Symposium on Lifestyle Medicine to take place at WCM-Q [3116-Views]
Experience Unmatched AFC Asian Cup Experiences at Mondrian Doha This Year [2416-Views]
Doha's Culinary Delight: Yotto by Cipriani Introduces Exclusive Sushi-Making Masterclass [2247-Views]
Football Fever returns to Qatar with the AFC Asian Cup and a Host of Festive Events [2238-Views]
Hamad International Airport Welcomes DHL's New Flight [2100-Views]
WCM-Q Workshop Discusses Reproductive Health and Wellbeing [2045-Views]
MATAR Completes Sixth Full-Scale Emergency Exercise at Hamad International Airport [2036-Views]
Expo 2023 Doha Unveils Exclusive Fan Zone for Asian Cup 2023 [2011-Views]
 
RSS Facebook Twitter LinkedDin QatarPRNetwork.com on Instagram
 
Top Sections
 
Top Stories