OMV to offer Western Union money transfer

Source: Western Union

The Western Union Company (NYSE: WU), a leader in global payment services, and OMV, the leading energy group in the European growth belt with headquarters in Vienna, Austria, have agreed to work together to provide Western Union Money TransferSM services at OMV retail locations.

The cooperation represents a significant step in Western Union's strategy to expand and diversify its Agent network into different classes of trade. It complements the company's strategy to sign up retail locations under the European Union Payment Services Directive which allows non-bank entities to offer financial services under a payment institution's license. The cooperation with OMV will also help Western Union attract mainstream customers to its money transfer service, as well as promote intra-Euro and domestic money transfers.

Western Union's national and international money transfer services will be offered at more than 1,800 OMV filling stations in Austria, Bulgaria, Czech Republic, Germany, Hungary, Romania, Slovakia and Slovenia. The service will be rolled out over the next 18 months and is a further step in OMV and Western Union's respective strategies.

This is the first cross-regional filling station signing of this size in Europe for Western Union. It represents an excellent opportunity for Western Union to expand its distribution network in the region. The cooperation will add more than 300 new locations to Western Union's existing network of over 2,900 Agent locations in Austria, and a total of more than 1,800 new locations to the existing Agent network in Central and Eastern Europe.

OMV filling stations have been increasingly developing into multi-functional service centers, putting the needs of the modern mobile customer center stage. In the VIVA shops, customers enjoy refreshments and on-site prepared snacks with premium quality. OMV is also continuously expanding its range of tailor-made services for its customers. In April 2010, the OMV network with VIVA shops in Austria was equipped with special Automated Teller Machines (ATMs) which feature a cash-dispensing function, as well as a function to allow customers to make fund transfers and deposits. With the Western Union Money Transfer service, OMV significantly steps up its range of services all over the Central East European and Southeast European region. Now customers can also transfer cash from one filling station to another filling station.

Hikmet Ersek, CEO-elect of Western Union, said: "OMV has an excellent network of filling stations throughout Central and Eastern Europe. We view the cooperation with OMV as a valuable opportunity to pursue further growth, add filling stations to our Agent network in Europe and offer more customers the opportunity to experience the speed, convenience and reliability of the Western Union Money Transfer service."

Dr. Gerhard Roiss, OMV Deputy Chairman, said: "Western Union is an ideal partner for OMV. The introduction of the Western Union service will complement our strategy of providing a wide range of services to our customer base. We look forward to launching with Western Union over the next 18 months."

 

Comments: (0)