International money transfer system Tempo Money Transfer (TMT) and Chinese banking sector giant, ICBC have successfully completed a large-scale integration project.
It enables clients to send money from TMT’s locations across France and Germany, receiving funds in over 17,000 ICBC locations across China. This integration is not limited to ICBC, in whose branches cash-to-cash, cash-to-accounts and card crediting are available. Account crediting and card crediting (CUP, Visa, Mastercard) are also available in over 40 other Chinese bank branches. Thus, the project covers the country's entire financial sector. There is rapid demand for quality money transfer services from Germany and France to China, growing annually.
The currency of the transfers is Euro. In the case of cash-to-cash transfer, notification services are available by phone.
The president for the Paris-headquartered company, whose services are available in over 70 locations in Germany and France, Mr. Jeffrey Phaneuf said "the project manifests the great achievements, Tempo Money Transfer has made, not only in the European continent, but also globally".
“China is a country where the remittance market has enormous volumes and potential. Given the scale of the segment and ICBC's position in the market, we believe the project has significant meaning to the global money transfer market. For more than a year, we have been working on building up an international component of the business. The completion of the project with ICBC, means we are gaining significant results in this area,”
He reported that due to the realisation of the project's success, the number of TMT’s locations has soared to nearly 32,000 in Asia.
The Paris-headquartered operator has over 4,300 locations in India, nearly 2,000 locations in Pakistan, and close to 6,000 locations in the Philippines. The number of locations in Nepal exceeds 1,800. Tempo Money Transfer now operates in over 100 countries.