Intesa Sanpaolo signs with Western Union

Source: Western Union

Western Union (NYSE:WU), a global leader in money-transfer services, today announced that it has signed an agreement with Intesa Sanpaolo, one of the biggest banking groups in the Eurozone with 11 million customers and a market capitalization of about €30 billion.

The agreement to offer Western Union® Money TransferSM will mark the first time in Italy that remittances can be sent abroad via ATM machines by the bank's account-holders.

From June 2011, Western Union money-transfer services will be available across Intesa Sanpaolo's network of more than 7,200 ATMs distributed across all regions of Italy. In the months to follow, the service also will be available through 700 standalone kiosks inside Banca Intesa Sanpaolo branches and via internet and mobile banking.

Jan Hillered, Western Union senior vice president for Europe and CIS, said: "This agreement marks a strong and mutually beneficial alliance between Western Union and Banca Intesa Sanpaolo. The partnership aims at the acquisition of new customers in electronic channels. Already we have seen good growth in this segment, suggesting that the market is keen to adopt innovative money-transfer solutions."

Marco Siracusano, Head of Consumer Marketing at Intesa Sanpaolo, said: "Money-transfer services that deliver value are important for our customers who need to transfer money abroad and, in particular, for our 500,000 migrant clients who are developing a long-term relationship with our bank. The agreement with Western Union allows us to be the first bank in Italy to provide a money-transfer service 24 hours a day, 365 days a year."

To use these services, consumers must have accounts with any bank belonging to the Intesa Sanpaolo Group or own a SuperFlash prepaid card, which can be purchased from any branch or online.

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