International France and Germany - based remittances provider, Tempo Money Transfer has started operation in three East European countries - Ukraine, Czech Republic and Slovakia.
The new development is part of collaboration with one of the regional market leaders, Unistream.
The project's completion enables clients to send money from Tempo's agent locations in Germany and France and receive funds at service points where Unistream pay-outs are available in Czech Republic, Slovak Republic and Ukraine.
Tempo operates with over 150 authorized agent locations in Germany and France, as well as a dedicated retail store in central Paris.
The numbers of Unistream locations where Tempo money transfers has become available are 40, 6 and 8,600 respectively.
Just recently the Paris-headquartered company and Unistream successfully completed the first step of the joint project, launching remittances from France and Germany to Mongolia and Vietnam (500 and 1000 payout locations in each country, respectively).
The companies plan to expand joint activity into yet another 10 countries.
"Eastern Europe is a very important segment of the global remittances market. We are particularly excited to offer payment services to the Ukraine, as this country is one of the major recipients, (remittances wise) in the European money transfer arena. It's GDP is vitally dependent on money transfers, hence the demandfor the services is soaring," said the president for Tempo, Mr. Jeffrey Phaneuf.
He said also that the company has been very active in its development in Europe.
"So far we have completed integration projects in Moldova, Russia, Romania and Armenia. We are planning to cover more and more countries - and not only within the framework of the Unistream project."
The BdF-licensed company has been actively building up its international network outside of Europe as well.
“We are looking at increasing our financial indicators in each project. We concentrate on reducing transaction costs for our valued clients. This makes for an effective decrease in the black market and brings money transfers into the open, regulated sphere. This benefits the host country's economy and our customers,” said Mr.Phaneuf.
Contributed | what does this mean?