In the third quarter of 2006, the money transfers system UNISTREAM continued to demonstrate steady growth and positive dynamics. The amount of transactions reached $573 million in July-September, up 45 percent compared with April-May when the system demonstrated a $396 million turnover.
In September of this year, UNISTREAM reached a significant achievement. The system has become the first among the Russian money transfers systems to demonstrate a $1 billion 3 million turnover in the period from January – September.
With the focus on signing new partnership agreements, UNISTREAM actively signed partnership deals with new CIS and international financial institutions world wide. The partnership portfolio increased by 48 banks and money transfers systems making the number of service points grow from 22 000 (end of Q2) to the current 25 000.
The system signed agreements with such financial institutions as Ulaanbaatar City Bank (Mongolia), ASE Management (Great Britain), Chequepoint operating in UK, Check Republic and Spain), Totalmoney (Israel), Beltcastle (Latin America), Instant Cash, Orion Bank (Afghanistan) and so on.
In the third quarter UNISTREAM significantly widened the spectrum of services adding the internet payments of Yandex Money, Cyberplat and Money Mail.
“Besides stepping up the production and signing new agreements, the third quarter was marked by significant evens for the UNISTREAM money transfers system,” said CEO for the system, Souren Hayriyan, “In July, the system became an independent business based on the Moscow-headquartered Unistream Bank. We finalized obtaining the license on Cyprus for our affiliate UNISTREAM Cyprus, demonstrating that UNISTREAM is now internationally recognized money transfers network.”
Hayriyan said UNISTREAM is targeting a $2 billion turnover in 2006 against a $750 million in 2005.