W Union plans transfers on e-channel
Western Union is expanding its electronic channels, expecting to offer Internet money transfers in Thailand this year.
The global money-transfer service is working with its agents to study the potential for bank-account-based money transfers through Internet banking, automated teller machines and phone-banking channels, said Vipawan Yongvikul, country director for Thailand. This will cater to its customers’ demand for faster and more convenient access to its services.
Currently, Western Union focuses on physical money transfers through its more than 4,600 locations in Thailand. It has seven agents for money transfer: Bangkok Bank, Bank of Ayudhya, United Overseas Bank, Bank for Agriculture and Agricultural Cooperatives, Thanachart Bank, Thailand Post’s offices nationwide, and Central Department Store’s network. “We also aim to grow our physical network to move closer to our customers,” Vipawan said.
Western Union is also offering special prices for eight locations that often receive money transfers from Thailand. These are mainland China, Hong Kong, India, Japan, Singapore, South Korea, the United Kingdom and the United States.
“Our services are an alternative for those wanting fast and reliable money-transfer without account numbers overseas,” Vipawan noted.
Last year, Western Union moved money from 185 countries to Thailand and from Thailand to 190 countries.
Demand for this service is likely to grow from tourists in Thailand, Thais working abroad, Thai students studying overseas, expatriate workers and small entrepreneurs, Vipawan said.
“Entrepreneurs are a key consumer segment for Western Union in Thailand, as we offer them the means to quickly and efficiently send and receive funds.
