Western Union Financial Services Inc., a worldwide leader in money transfer services, has signed an exclusive global agreement with Travelex, the world's largest non-bank foreign exchange payments company.
Travelex locations will now only offer the Western Union Money Transfer service, making it available at 650 of their 700 retail locations in city centres and across 97 airports worldwide. Travelex serves over 29 million customers in 20 countries each year. Western Union and Travelex will begin the roll-out of money transfer services to Travelex locations immediately.
The agreement marks an important milestone in the ongoing expansion of the Western Union global network. The addition of Travelex, in particular locations at the world's leading airports, extends Western Union's connection to the more than 185 million people living outside their country of origin.
Moreover, 40 percent of the world's airline passengers now pass through airports where Travelex operates its retail foreign exchange branches, including the major gateways at London, New York, Hong Kong, Frankfurt and Sydney.
"We selected Western Union because of its ability to provide quick, convenient and secure service to our customers around the world," said Clive Kahn, chief executive officer of Travelex. "Offering a brand like Western Union supports our goals of meeting our customers' needs and growing the Travelex business worldwide. Our customer base will benefit greatly from having the choice to better service their money transfer needs."
"The addition of Travelex locations to the Western Union global network fortifies our focus on high-quality customer service and will complement our valued services," said Christina Gold, president, Western Union Financial Services Inc. "The combination of Western Union and Travelex increases choice and control for customers seeking speed, reliability and convenience in money transfer services."