A New Alliance Emerging in the International Money Transfer Market

07.10.2014
The Global IT exhibition CeBIT Bilisim Eurasia 2014 witnessed the signing by UNISTREAM and UPT of a strategic agreement on cooperation. 

The Turkish money transfer network UPT (Universal Payment Transfer) and UNISTREAM International Payment System of Money Transfers entered into a cooperation agreement. Turkish customers can pick up UNISTREAM money transfers in the UPT network of outlets comprising over 4,700 service points. 

UPT brand - Universal Payment Transfer – emerged in Turkey in 2010, and in 2013 the product line of the network started to include international money transfers.

“Today the Turkish economy is the most stable economy in the region. At present, the trade turnover between Russia and Turkey amounts to $32.7 bn, and in 2013 Russia became the second largest commercial partner of Turkey after the European Union. Turkey is ranked eighth among the external trade partners of Russia. Russian citizens and citizens of CIS countries are frequent visitors to this country, and our task is to ensure a more reliable and fast money transfer service, CEO of CB UNISTREAM OJSC Kirill Palchun said. UPT comprises a big share of the Turkish money transfer market and, undoubtedly, the volume of money transfers will be growing in future even more as a result of the active cooperation between our countries. In 2013, the volume of money transfers between Russia and Turkey amounted to $200 mn, according to the Central Bank of Russia. According to expert evaluations, the amount of money transfers between Turkey and CIS countries (including Russia) exceeds $600 mn. In the next few years, the UNISTREAM network is expecting to increase its share in this direction thanks to cooperation with UPT”.

UPT CEO Erol Ulu: “Our goal is to ensure the best service quality to our customers and maintain sustainable growth with the help of our business partners. In 2015, we expect both to achieve high growth rates and significantly increase the number of our outlets in Turkey. We are planning to open with our partners more service points in other countries as well. Besides offering conventional office services, we operate via the Internet, mobile phone applications and tablet PCs – all of which enables us to expand and promote our services at a fast pace”.


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