17.01.2006 10:00:00
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Western Union Signs Exclusive Agreement with Travelex for Money Transfer Services; Agreement Adds Significant Breadth to Western Union's Quarter Million Global Locations
The agreement marks an important milestone in the ongoingexpansion of the Western Union global network. The addition ofTravelex, in particular locations at the world's leading airports,extends Western Union's connection to the more than 185 million peopleliving outside their country of origin (1).
Moreover, 40 percent of the world's airline passengers now passthrough airports where Travelex operates its retail foreign exchangebranches, including the major gateways at London, New York, Hong Kong,Frankfurt and Sydney.
"We selected Western Union because of its ability to providequick, convenient and secure service to our customers around theworld," said Clive Kahn, chief executive officer of Travelex."Offering a brand like Western Union supports our goals of meeting ourcustomers' needs and growing the Travelex business worldwide. Ourcustomer base will benefit greatly from having the choice to betterservice their money transfer needs."
"The addition of Travelex locations to the Western Union globalnetwork fortifies our focus on high-quality customer service and willcomplement our valued services," said Christina Gold, president,Western Union Financial Services Inc. "The combination of WesternUnion and Travelex increases choice and control for customers seekingspeed, reliability and convenience in money transfer services."
For more information on Western Union's Money Transfer services orfor a comprehensive list of Western Union Agent locations, call800-435-2226 or visit www.westernunion.com.
About Western Union and First Data
First Data Corp. (NYSE:FDC) is a leading provider of electroniccommerce and payment solutions for businesses and consumers worldwide.Serving 4.1 million merchant locations, 1,500 card issuers andmillions of consumers, First Data powers the global economy by makingit easy, fast and secure for people and businesses around the world tobuy goods and services using virtually any form of payment. Thecompany's portfolio of services and solutions includes credit, debit,private-label, smart and stored-value card issuing and merchanttransaction processing services; money transfer services; moneyorders; fraud protection and authentication solutions; check guaranteeand verification services through TeleCheck; as well as Internetcommerce and mobile solutions. Western Union and its subsidiary,Orlandi Valuta, together make up one of the world's largest moneytransfer networks with approximately 250,000 Agent locations in morethan 200 countries and territories. The company's STAR Network offersPIN-secured debit acceptance at approximately 1.9 million ATM andretail locations. For more information, visit www.firstdata.com.
About Travelex
Founded in 1976 by Lloyd Dorfman, Travelex is the world's largestnon-bank foreign exchange payments company, serving over 29 millioncustomers in 20 countries each year. Countries include United Statesof America, Canada, United Kingdom, Malta, Netherlands, Belgium,Germany, Switzerland, Finland, France, Czech Republic, Italy, Bahrain,Oman, Hong Kong, Singapore, Indonesia, Thailand, Australia, and NewZealand.
Corporate Services - Travelex is the world's largest non-bankprovider of foreign exchange services to over 16,000 corporate clientsacross the globe. It offers a "one stop shop" for services rangingfrom cross 3 of 2 border payments to its risk solutions service formitigating and hedging currency risk. For financial institutions,Travelex provides business process outsourcing for foreign exchangeproducts, cross border settlement and bankers' drafts.
Outsourcing - Travelex is the world's largest and most automatedprovider of outsourced travel money and related fulfillment servicesfor banks, financial institutions and travel agencies, processing over3 million orders annually. Travelex offers its customers a full rangeof delivery channel options including telephone and Web-basedordering.
Retail services - 40 percent of the world's airline passengers nowpass through airports at which Travelex operates its retail foreignexchange branches, including the major gateways at London, New York,Hong Kong, Frankfurt and Sydney. Other retail services and productsrange from prepaid cards, travellers cheques and money transfer tocall centre services and travel insurance (U.S. only).
(1) Source - International Organization for Migration, 2005
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