Q1 2008 results


 The international mоnеy transfers system UNIStream processed the amount of transactions worth $871 million in January-March 2008, nearly a 76-percent increase compared with the same period of 2006 when the volume reached $496 million.

Over 1 million transactions have been processed within the first quarter of the current year.

The number of the UNIStream members grew to 333, while the number of outlets soared to 65,000 in over 90 countries.

The number of own service points has reached 230.

In his comments to the Q1 results, the CEO for UNIStream, Souren Hayriyan said that the system designed a new strategy to join 2008. The strategy is focused on quality increase, product spectrum widening and transformation of the company into an international market player able to actively participate in development of principle money transfers corridors.

“2007 featured drastic changes in the [remittances] market. The demand for quality demonstrated itself quite flashy. In a very short term, the company managed to design and realize a set of measures to increase its competitiveness and force of attraction for the partners. This contributed a lot to such a strong growth.”  

Hayriyan reported 12 new UNIStream products are being implemented.

He also said the company planed to further step up the volumes of transactions and develop the service point network in 2008.

“UNIStream is currently on a half way through to transform itself into a solid international business with leadership ambitions in the global market. We have the task and the potential to fulfill it. We expect UNIStream to use an excellent market situation to keep high growth rates in 2008.” 

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