Vanguard (Lagos)

17 November 2012

Nigeria: Ecobank Partners Western Union for Internet Money Transfer

For Ecobank and Western Union,their long standing business relationship has taken an advanced stage when the two announced their collaboration for easy money service transfer through Internet Account Based Money Transfer in Kenya. This means that Ecobank customers in Kenya will now have access to the Western Union Money Transfer service via their bank accounts.

Western Union Senior Vice President, Middle East and Africa, Jean Claude Farah, said that since he joined Western Union in 1999, the regional discovery has seen the company open many new markets, and has allowed it to serve millions of people from Africa in remitting money to friends, family and loved ones.

"As a world leader in the global money transfer business, Western Union moves more than 2.4 million transactions across borders every day through a network of over half a million agent locations and across 200 countries and territories worldwide. Be it at agent locations, via mobile payments or online through westernunion.com or even through bank accounts, one thing is for sure, we provide a fast, reliable and convenient methods of transferring money around the world to both individuals and businesses.

In addition, Group Executive Director, Domestic Bank, Patrick Akinwuntan, said, leveraging technology to take banking to the people by providing convenient, reliable and affordable financial products and services is a key part of Ecobank's strategy, therefore we are pleased to be partnering with Western Union to be the first to offer such an innovative and convenient banking service to our customers.

"Ecobank Retail Banking intends to offer the Western Union (ABMT) service in more than 2,600 agent locations across its footpring of 31 countries in the coming months. The new electronic service launch is an extension of the two companies' successful collaboration across Africa.

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