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Home / India News / 2010 / October / October 11, 2010
Vijaya Bank to Offer MoneyGram International Services

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Vijaya Bank to Offer MoneyGram International Services

Bengaluru, Karnataka, India

MoneyGram International, a leader in the global money transfer industry and Vijaya Bank announced today that the companies have signed a deal in which Vijaya Bank will offer MoneyGram’s money transfer services in 1173 of its branch locations. Vijaya Bank is signed under the Super Agent relationship of Thomas Cook, India Limited and UAE Exchange. The partnership was announced during a press conference held in Banglore today and was attended by executives from MoneyGram, Vijaya Bank, Thomas Cook, (India) Limited and UAE Exchange.

“We are pleased to add such a fine and established bank as Vijaya Bank to our agent network,” said Harsh Lambah, region director of MoneyGram. “The Indian remittance market is already first in the world and it is still growing. We are happy to be able to help citizens realize their financial goals through providing reliable money transfer services to and from over 190 countries around the world.”

Vijaya Bank, the Bangalore based Public Sector Bank held a Press Meet today along with Thomas Cook (India) Ltd and UAE Exchange to highlight the agreement the Bank has entered into for providing instant, easy and hassle free money transfer facility for their customers through MoneyGram International, a global Payments Service Organization for whom Thomas Cook and UAE Exchange are Super Agents.

Speaking on the occasion, Sri Albert Tauro, Chairman & Managing Director, Vijaya Bank said that the agreement under which real time money transfer services of MoneyGram International will be available to the customers of the Bank, particularly the expatriate Indians, was yet another significant value addition for eight million diverse customers spread across 1173 networked branches of the Bank across the country."

On this occasion Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd. said “Reaching out to our customers is a business priority. Our tie up with Vijaya Bank re-iterates our commitment towards the growth of our customer network between urban and rural cities. They can now undertake money transfers from any of the Vijaya Bank branches close to their home or place of work. The objective herein was to provide a sense of convenience and we are excited about this new association.”

Super-agent, UAE Exchange said “We have been working with MoneyGram for 9 years in India and to much success,” Mr V. George Anthony, Country Manager of UAE Exchange (India). “We are pleased to sign on Vijaya as a sub-agent that will provide MoneyGram services.”

About MoneyGram International

MoneyGram International, a leading global payments services company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide and bill payment services in the United States through a global network of more than 203,000 agent locations—including retailers, international post offices and financial institutions—in more than 190 countries and territories around the world. To learn more about money transfer or bill payment at an agent location or online, please visit www.moneygram.com or connect with us on Facebook.

About Vijaya Bank

Vijaya Bank has the highest number of branches in its home state Karnataka. Vijaya bank has a network of 1173 branches, 48 Extension Counters and 480 ATMs. Vijaya Bank is one among the few banks in the country to take up principal membership of VISA International and MasterCard International. The driving force behind Vijaya Bank's every initiative has been its 11284 strong dedicated workforce.

About Thomas Cook (India) Limited:

Thomas Cook is the largest integrated Travel and Travel related Financial Services Company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, and Insurance. The Company has been in India for 129 years providing world-class travel service. TCIL has the largest network with 180 locations in 72 cities. For more information, please visit www.thomascook.in

About UAE Exchange:

The UAE Exchange Group is globally renowned as one of the most trusted pioneers in Financial Services, company’s core business includes Money Exchange, Foreign Inward Money Transfer, Gold Loan, Travel & Ticketing, Tours and Financial Advisory Services. UAEFS is proud to affirm that we are first Non Banking Financial Company who received the Authorized Dealer – II license from RBI. UAE Exchange are the leading primary agent of MoneyGram International in India having an extensive agent network of around 13000 locations across the length and breadth of the country including banks, corporate & single agents. UAE Exchange and Financial Services have been awarded as the best agent of MoneyGram Money transfer service in South Asia, Middle East for the last three consecutive years.

saleelak@redcommunications.in

Source: MoneyGram International (Business Wire India)

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