Western Union renews Postal Savings Bank of China agreement

The Western Union Company (NYSE: WU), a leading provider of money-transfer services, today announced the renewal of an agreement with the Postal Savings Bank of China (PSBC) to provide Western Union Money Transfer services.

PSBC currently has more than 20,000 locations offering Western Union Money Transfer services throughout China. PSBC has been a Western Union Agent since 2001.

As one of China's leading banks, PSBC's locations stretch beyond the major cities and into the country's rural regions, giving consumers even greater accessibility to money-transfer services.

Western Union President and CEO Christina Gold and Hikmet Ersek, Executive Vice President and Managing Director, Europe, Middle East, Africa and Asia Pacific, were in Beijing this week to discuss future plans.

Ersek said, "The renewal of this contract is a strong signal that the combination of PSBC's extensive network across urban and rural China and Western Union's global brand delivers results."

For more than 10 years, Western Union has remained committed to the China market, providing a dependable financial lifeline between consumers and their family members overseas through a fast, reliable and convenient money-transfer service.