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The Western Union Company (NYSE: WU), a global leader in money transfer, today inaugurated its first Signature Location with India Post at the Jaipur General Post Office (GPO) to commemorate 15 years of collaboration with India Posttoday. The signature location launched at Jaipur aimsto support all remittance related transactionsvia Western Union® services and will operate as a distinct office within the GPO.
This is the first of the 15 such signature locations that Western Union plans to launch along with India Post in Rajasthan.The signature location at Jaipur was inaugurated in the presence of Lt. Col. D.K.S. Chauhan, Chief Post Master General (CPMG) of Rajasthan. Two India Post customers from Shastri Nagar, Jaipur,who were winners of the Western Union® ‘Diwali Campaign 2015’,also received a gold coin each during the celebration at Jaipur GPO.
Commenting on the launch of the first signature location at Jaipur, Kiran Shetty, Western Union’s Managing Director and Regional Vice President, India and South Asia, said, “Post offices and post masters serve as an important role in connecting villages and community elders. Financial services offered through post offices are well received as consumers frequently visit them. Globally, Western Union has been associated with close to 100 postal organizations, predominantly offering money transfer services to rural and interior areas. By collaborating with India Post,we are enabling financial inclusion to enable consumers in the remotest parts of India, even in sparsely banked or unbanked regions of the country. Utmost convenience is key in our remittance service offering and the signature location at the Jaipur GPO in association with India Post, is a step in this direction.”
Western Union recently won the National Award on e-Governance 2015-16 in India under the category “Use of ICT for Development by Non-Government Institutions” for their collaboration with India Post. Western Union’s goal of facilitating financial inclusion and reaching out to the masses makes India Post the ideal choice for International remittances services in the country. As of December 31, 2015 Western Unionis able to reach over 114,000 locations* across the country in over 6000+ towns / villages which is more than the aggregated bank branch network in India. This network has supported the growth of remittances in India from $2.1 billion in early 1990’s to $72 billion in 2015.
*Network data as of 31 December 2015
The Western Union Company (NYSE: WU) is a leader in global payment services. Togetherwith its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchasemoney orders. As of December 31, 2015, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 Agent locations in 200countries and territories and over 100,000 ATMs and kiosks. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments.
For more information, visit www.westernunion.com.
For more than 150 years, the India Posthas been the backbone of the country’s communication and has played a crucial role in the country’s socio-economic development. It touches the lives of Indian citizens in many ways: delivering mails, accepting deposits under Small Savings Schemes, providing life insurance cover under Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) and providing retail services like Foreign Mails Management, International Money Remittances, National Pension Plans, Sale of Mutual Funds,bill collection, sale of forms, etc. The India Post also acts as an agent for Government of India in discharging other services for citizens such as Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) wage disbursement and old age pension payments. With 1, 55,015 Post Offices, the India Post has the most widely distributed postal network in the world. In order to provide the best-in-class customer service, deliver new services and improve operational efficiencies, the India Post has undertaken an end to end IT modernization project to equip itself with requisite modern tools and technologies. This Project will enable our organization to get 25000+ computerized Post Offices CBS driven and the other rural Post Offices connected through technology throughout the country in the coming years. The ATMs at 1000 locations will also be functional in the coming months.
For more information, visit http://www.indiapost.gov.in