Western Union Starts Banking, Brokerage Operations In Brazil
11 10월 2011 - 2:53AM
Dow Jones News
Western Union Co. (WU) on Monday announced the start of
on-the-ground operations in Latin America's largest nation,
creating a commercial bank and a foreign exchange brokerage in
Brazil.
In addition to the newly established banking and brokerage
operations, Western Union plans to introduce new direct-to-
consumer financial services, including domestic money transfers and
consumer bill payments, the company said in a press release.
The bank didn't unveil the volume of money to be invested in
Brazil.
Previously, Western Union operated in Brazil only through local
agents. The bank said the existing network of agents will work
side-by-side with the new direct Western Union services.
"To meet the growing opportunities that the Brazilian market
offers, Western Union will continue to work closely with its bank,
exchange broker and retail agents in Brazil to bring a diversified
range of reliable and convenient financial services that complement
our money transfer business," the bank said.
-By Rogerio Jelmayer, Dow Jones Newswires; 5511-3544-7071;
rogerio.jelmayer@dowjones.com
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