UNISTREAM has signed a partnership agreement with the international money transfers system Instant Cash Worldwide, part of the House of Patels group. By the agreement, the UNISTREAM’s clients will enjoy the services in the service points of Instant Cash Worldwide while the Instant Cash services will become available in the service points operated by UNISTREAM.
Instant Cash Worldwide is a solid player in the World money transfers market. The company operates service points in the US and Canada, Africa, Middle East and Oceania. In India, the company plans to step up the number of service points to 5,000 against 2,000 currently, it operates 200 service points in UE and considers having 300 in the UK (200 now).
“The agreement with Instant Cash Worldwide is an important event for our company. By signing the agreement, we entered very massive money transfers corridors – UK-India, India –the US - worth $20 billion, we believe,” said CEO for UNISTREAM Souren Hayriyan.
He also noted that UNISTREAM aims to have a 10 percent market share in the corridors.
The agreement may result into UNISTREAM increasing its turnover by extra $2 billion in the future.
With the Instant Cash deal signed, UNISTREAM has 25 thousand service points around the world. It demonstrated a $750 million turnover in 2005, while in H1 of 2006 the UNISTREAM’s amount of transactions reached $630 million.