Western Union Signs Seven Banks in Myanmar
The Western Union Company (NYSE: WU), a leader in global payment services, today launched Western Union Money Transfer^® services at six banks in Myanmar, for the first time allowing Myanmarese and residents to receive international money remittances from more than 200 countries and territories in minutes.
In addition to the six banks, Kanbawza Bank, the largest private bank in Myanmar with over 90 locations nation-wide, has signed with Western Union.
A combined network of more than 150 locations representing Co-operative Bank, First Private Bank, Myanma Apex Bank, Myanmar Livestock and Fisheries Development Bank, Myanmar Oriental Bank and United Amara Bank are now connected to Western Union's global network of over 500,000 Agent locations.
Kanbawza's agreement will further expand the Western Union Agent Network to nearly 250 locations in the coming month. Western Union is the first global money transfer operator to sign seven banks after sanctions were eased last year.
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