Egypt Edition 2 Western Union
MARKET With the growing number of Egyptians working and travelling abroad, there is a great need for a credible, fast and convenient way to send and receive money. As reflected by reported consumer needs, the money transfer market is growing steadily and several banks have jumped on the bandwagon. Nevertheless, the limitation of accessing a bank account for both sender and receiver often makes the process complicated and time-consuming. The limited timeframe and simplified procedures of Western Union transactions give it an upper hand in the money transfer business. A fast, efficient and reliable customer service check on transactions makes things even easier for the Western Union client. With a healthy agent network in over 215 countries and territories and a powerful transfer service supported by a highly developed technological network, Western Union is money at your fingertips – literally.
focused its business and is now primarily a financial services provider. Continuing to build upon its diverse 150-year history, the household brand name has invested wisely in a welltrained customer service base qualified to assist customers when sending, receiving or tracking transactions that can be completed within minutes, guaranteeing that the ever-growing corporation retains its position as the undisputed world leader in payment services. Western Union arrived in Egypt in 1995 with eleven branches fully operational, serving not only Cairo but also major tourist and expatriatepopulated cities such as Alexandria, Sharm El-Sheikh, Luxor and Hurghada. In just under a decade Western Union has grown into a network of 64 offices nationwide serving hundreds of Egyptians, tourists and foreign nationals every day. In 2004 Western Union Egypt won the coveted Productivity Award for the Middle East region, to take the number one position in productivity.
ACHIEVEMENTS Western Union began its money transfer services, operating with just a handful of locations, in 1871. Today it has more than 271,000 locations worldwide. The groundbreaking service made the money transfer process significantly easier, allowing clients to send and receive money without necessitating a bank account. Over the years, Western Union has slowly 86
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HISTORY Western Union began its transfer operations with the telegraph in 1851 and executed the first money transfer in 1871. A century and a half later it has become an undisputed world leader in payment services, with more than 271,000 locations in over 215 countries and territories all over the world and with a growing online presence
(westerunion.com launched in 2000). Always pioneering new trends and products, Western Union International in 1935 introduced the first inter-city facsimile service, the first commercial inter-city microwave system (1943), the first branded, pre-paid and disposable telephone card offered in the US (1993). Egypt modestly
started Western Union operations with a single computer in March 1995. Ten offices sent manual transactions back and forth to that main brain located in the back half of the International Business Associates office in Garden City. Within a year the growing company, which began with just four employees, saw further need for office space and moved to another location nearby. In 2003 Western Union Egypt moved to its new premises in Maadi and now has 230 employees.
PRODUCT At Western Union they understand that when people move their money, it takes on significance beyond monetary value, that there exists an emotional connection between the sender and the receiver. In many cases, senders are separated from their receivers (their families and their homes) in order to earn money to improve the lives of loved ones back home. In other situations, money is being sent to help loved ones with urgent needs. The consumer insight is that Western Union consumers do not just transfer money – they send love, help, commitments, solutions to problems, medical care, a future. When people
SUPERBRANDS
12/17/06 3:14:02 PM
focused its business and is now primarily a financial services provider. Continuing to build upon its diverse 150-year history, the household brand name has invested wisely in a welltrained customer service base qualified to assist customers when sending, receiving or tracking transactions that can be completed within minutes, guaranteeing that the ever-growing corporation retains its position as the undisputed world leader in payment services. Western Union arrived in Egypt in 1995 with eleven branches fully operational, serving not only Cairo but also major tourist and expatriatepopulated cities such as Alexandria, Sharm El-Sheikh, Luxor and Hurghada. In just under a decade Western Union has grown into a network of 64 offices nationwide serving hundreds of Egyptians, tourists and foreign nationals every day. In 2004 Western Union Egypt won the coveted Productivity Award for the Middle East region, to take the number one position in productivity.
ACHIEVEMENTS Western Union began its money transfer services, operating with just a handful of locations, in 1871. Today it has more than 271,000 locations worldwide. The groundbreaking service made the money transfer process significantly easier, allowing clients to send and receive money without necessitating a bank account. Over the years, Western Union has slowly 86
eg_86-87.indd 2
HISTORY Western Union began its transfer operations with the telegraph in 1851 and executed the first money transfer in 1871. A century and a half later it has become an undisputed world leader in payment services, with more than 271,000 locations in over 215 countries and territories all over the world and with a growing online presence
(westerunion.com launched in 2000). Always pioneering new trends and products, Western Union International in 1935 introduced the first inter-city facsimile service, the first commercial inter-city microwave system (1943), the first branded, pre-paid and disposable telephone card offered in the US (1993). Egypt modestly
started Western Union operations with a single computer in March 1995. Ten offices sent manual transactions back and forth to that main brain located in the back half of the International Business Associates office in Garden City. Within a year the growing company, which began with just four employees, saw further need for office space and moved to another location nearby. In 2003 Western Union Egypt moved to its new premises in Maadi and now has 230 employees.
PRODUCT At Western Union they understand that when people move their money, it takes on significance beyond monetary value, that there exists an emotional connection between the sender and the receiver. In many cases, senders are separated from their receivers (their families and their homes) in order to earn money to improve the lives of loved ones back home. In other situations, money is being sent to help loved ones with urgent needs. The consumer insight is that Western Union consumers do not just transfer money – they send love, help, commitments, solutions to problems, medical care, a future. When people
SUPERBRANDS
12/17/06 3:14:02 PM
