Western Union Expands Into Little IndiaDate: Friday, June 4, 2004
Western Union Financial Services, a global leader in money transfer services, has announced the opening of its location in Little India in Singapore. This move is in line with the company's strategy to increase its brand presence for the Indian market.
According to a recent RBI report, India has emerged as the highest remittance receiving country in the world at $15.2 million during year 2002-2003. The World Bank report confirmed the growth potential of the Indian market, with the findings that remittances by expatriate Indians are the highest in the world, accounting for 15 per cent of the total global remittances.
Catering to the the estimated 140,000 Indian workers in Singapore, besides other communities, the latest location is open seven days a week from 9 am to 9 pm. This gives Western Union's ethnic customers, who may be working irregular hours, flexibility when picking up or sending money.
'The opening of this location in Little India will enable more people to access Western Union's convenient and reliable money transfer service,' said Andrew Ong, regional director, Southeast Asia.
This location, along with the two other locations located in Lucky Plaza and Lucky Chinatown are owned and run by Western Union.
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