Dubai PR Network, Online Press Release from Dubai and Middle East
 
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 : Dubai PR Network Editorial Team
Viewed 20911 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 DubaiPRNetwork.com.
Previous Story : DowDuPont Reports Fourth Quarter and Full Year 2017 Results
Next Story : UAE Ministry of Economy seeks ways to boost economic & trade...
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
MAC - Hyper Real Glow [22662-Views]
M∙A∙C Mineralize Total Detox [21661-Views]
Introducing Vitabrid C12, a brand-new, proprietary form of active Vitamin C being used for... [21344-Views]
5 things to know about collagen [13292-Views]
Fresh Hair in an Instant with SHOW Beauty [12822-Views]
PUMA and Sahntell Martin Unveil Debut Collection [11358-Views]
Amadeo® Fleurier 39 “Fan” [10431-Views]
Show/Pop-up Event “Pret-A-Cover™ Buyers Lane” to Be Launched in Dubai From March 28th to A... [9730-Views]
Mother's Day Gift Guide 2018 from The Little Birdy Group [9174-Views]
Moreish Café in Dubai introduces a healthy Quinoa Burrito [9138-Views]
True Colours [8778-Views]
Robinsons Honored for Outstanding Store Design [8723-Views]
UAE Team Emirates' Mirza Takes Gold at Asian Cycling Championships [8162-Views]
Phenomenal development in falconry racing from small beginnings: HHC Deputy CEO [8162-Views]
WGS 2018: Opening Session Highlights Importance of Embracing Smart Living to Enhance Quali... [8089-Views]
World-renowned Air Sculpture Artist Daniel Wurtzel collaborates with LG PuriCare™ air puri... [7960-Views]
Splash receives 2 awards [7594-Views]
MB&F M.A.D. Gallery presents aeronautical artwork "Nose Art” by French photographer M... [7521-Views]
Dubai Culture Announces an Exciting Line-up of Artists for SIKKA Art Fair 2018 [7369-Views]
Arab Duo Showcase Team's Potential in Final Stage of Dubai Tour [7100-Views]
RAK Hospital launches the biggest weight-loss challenge in association with MoHAP, RAK [6667-Views]
UAE Exchange Partners with Ripple for Instant Cross-Border Payments [6374-Views]
2XL launches Malmo Bed with floral designs for a vintage shabby chic inspired master bedro... [6271-Views]
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018 [6076-Views]
Food Lovers Rejoice: Dubai Food Festival Is Back This Month [5954-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories