WESTERN UNION LEAVING MONEY TRANSFER MARKET OF ARMENIA TO LEAD TO GROWTH OF CIRCULATION OF OTHER PAYMENT SYSTEMS

arminfo
2008-09-01 16:11:00

ArmInfo. One of the biggest money transfer systems Western Union's
leaving the money transfer market of Armenia will lead to growth of
circulation of other payment systems.

As director of money transfer system service of Unibank Natalya
Ter-Gevorkyan told ArmInfo correspondent, the bank will continue
serving the Western union system up to 26 September. Then she thinks
tension of international system of money transfer UNIStream may
grow as geography of the main service of the system (75 countries)
is almost the same as geography of Western Union. 'Earlier we wanted
to finish the current year with $1 bln circulation of the UNIStream
system, but after leaving of the Western Union it is not ruled out
that we shall manage to reach this indicator', - she said.

At the same time Ter-Gevorkyan added that according to the results
of the first half-year 2008 the share of UNIStream was 51,2% out
of the general volume of money transfer to Armenia and 44,5% - from
Armenia. The volume of UNIStream money transfer in Armenia has grown
by 40% over the first half-year 2008 if compared with the same period
of 2007 and amounted to $324.