DENVER, Nov. 6 /PRNewswire/ -- As part of its continuing global expansion,
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE: FDC) today announced the addition of Agricultural Bank of Russia to its
fast-growing international Agent network.
With more than 100 affiliates and branches in operation today, the
Agricultural Bank of Russia has an aggressive growth strategy. The Bank plans
to establish a total of approximately 200 affiliates and branches in more than
60 of the country's 89 regions by the end of 2001. Rollout of the
Western Union(R) Money Transfer service will begin immediately in
approximately 10 locations. It is anticipated that the service will be
available in the Bank's 200 planned affiliates and branches during the second
quarter of 2002. Additional locations will provide Western Union services as
the Bank's expansion continues.
"The success of our recent agreement with the Agricultural Bank of China
is proving the wisdom of working with organizations that have the ability to
reach both rural and urban markets," said Charles T. Fote, president and
chief operating officer, First Data Corp. "Russia has one of the world's
largest expatriate populations, which represents a huge growth opportunity for
Western Union. Our agreement with the Agricultural Bank of Russia allows us
to get closer to Russian consumers, making it easier for them to receive and
send funds wherever they may be."
"Much like China and India, Russia is an expanding market in which we have
aggressively sought local entities that could offer our service while
providing the value, convenience and speed that customers throughout the world
expect from Western Union," said Bill Thomas, president, Western Union
International. "The Agricultural Bank of Russia met Western Union's criteria
and our agreement will help us extend our worldwide presence, allowing us to
better meet the needs of our diverse customer population."
About Western Union Financial Services, Inc. and First Data
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE: FDC), is a worldwide leader in consumer money transfer services.
Consumers can quickly, safely and reliably transfer money at more than
117,000 Agent locations in more than 185 countries and territories. Famous
for its pioneering telegraph service, the original Western Union dates back to
1851 and introduced electronic money transfer service in 1871. Western Union
is celebrating its 150th anniversary in 2001. For more information, please
visit the company's Web site at http://www.westernunion.com.
First Data Corp., with global headquarters in Denver, powers the global
economy. Serving approximately 2.6 million merchant locations, more than
1,400 card issuers and millions of consumers, First Data makes it easier,
faster and more secure for people and businesses to buy goods and services,
using virtually any form of payment: credit, debit, smart card, stored-value
card or check at the point-of-sale, over the Internet or by money transfer.
For more information, please visit the company's Web site at
http://www.firstdata.com.
SOURCE Western Union Financial Services, Inc.
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Related links:
http://www.westernunion.com
Company News On-Call:
http://www.prnewswire.com/comp/138116.html
CONTACT:
Wendy Carver-Herbert for Western Union
Financial Services, Inc., +1-303-967-6416,
wendy.carver@firstdatacorp.com
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