 Chennai:
Western Union Financial Services, the US-based money transfer
company, has tied up with AFL WiZ to offer home delivery
service in India. As per the agreement, AFL WiZ, as Western
Union''s Indian agent, will courier its cheque to the person
to whom the money was remitted overseas.
Western
Union''s regional director (South Asia) Anil Kapur says
the home delivery option has to be exercised by the person
who transfers the money to somebody living in India. "Once
the home delivery option is exercised by the transferor,
the money is automatically routed to AFL WiZ''s network
in India and the payment will be made within 72 hours."
AFL
WiZ general manager S Ranganathan says his company will
leverage its existing courier infrastructure for the money
transfer business. "The total inward money remittances
to people living in India is around $20 billion of which
$12.5 billion is through legal channels."
Nearly
60 per cent of the remittances are for people living in
the South. And Western Union is trying to target this
segment.
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