UNISTREAM turnover up 8 percent in 2010 third quarter to $ 1.18 billion

15.10.2010

The amount of transactions of the international money transfer UNISTREAM in July-September 2010 reached $ 1.18 billion, a 8-percent growth, compared with the same period of 2009. In July-September of the last year, the system processed transactions totaling $ 1.09 billion.

The number of transactions in the third quarter of this year increased to 1.7 million.

The volume of transactions in the first 9 months was thus $ 2.77 billion, while the number of transfers during this period totaled 4.45 million.

"Given the trend of the market improvement, the management focused on not only increasing the volume, but also on taking advantage of market conditions to develop strategically important projects ranging from network development to achievement of new customer service levels," the CEO for the system, Souren Hayriyan said in his comments.

He noted that at the end of September, the system network exceeded 200 000 service points. Unprecedented international projects, particularly in Asia, have been implemented. Those included not only cash-to-cash but also cash-to-account options.

"I would especially like to mention projects in China and India. Our interest in these markets is due to tremendous growing potential these countries feature as far as the remittance market is concerned," said Hayriyan.

He also noted that this year Unistream succeeded a lot in development of own networks in the UK, Greece, Cyprus and Germany.

"We have became the first Russia-based system to get a pan-European license for conducting money transfers in the space of the entire EU. The license was issued by German regulator, which became unconditional recognition of the quality and transparency of UNISTREAM."



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