The Paris–headquartered money transfer provider, Tempo Money Transfer published its operational results for the third quarter of 2015.
The company reported a growth in its operational component. The France-based company said the number of locations it currently operates, exceeded 170, 000.
Tempo Money Transfer is now present in more than 110 countries.
Its president Mr. Jeffrey Phaneuf reports that in the July-September period, the company completed large-scale projects in Asia and Africa.
He affirmed July’s successfully completed, large-scale integration project, now sees Tempo and Chinese banking sector giant, ICBC, enabling 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.
In September, Tempo Money Transfer strengthened it position in Sri Lanka. The company successfully completed an joint project with the Colombo-headquartered financial institution, Sampath Bank. Clients are now able to send money from over 70 TMT agent locations in Germany and France and receive the funds in branches throughout Sri Lanka. The total number of branches exceeds 200, island-wide.
In the third quarter of 2015, Tempo Money Transfer started operations in 6 African countries.
The project completion opened 1000 new locations in Senegal, 500 in Guinea, 50 in Nigeria, 20 in Gambia and Siera Leone. Operations also started in Mauritania.
“Development of money transfer corridors in Africa is an important task given how much the population in the vast number of countries [within the continent] depends on the money, their loved ones send from Europe”, the president for Tempo Money Transfer, Mr. Jeffrey Phaneuf said.
The company made important steps to significantly build on its activities, in North America, particularly in the US. The France–based company registered its trademark for international remittances through the international trademark system, World Intellectual Property Organization.
Tempo currently operates some 450 locations in the US via a partner payout network. The trademark registration is yet another step forward, manifesting the company's eager plans to explore the segment.
Previously, Tempo Money Transfer registered its trademark with the Office of Harmonization in the Internal Market (OHMI).
“One of our goals is to lower the transaction costs for wires, to effectively decrease the black market and bring transactions into the open, regulated sphere. This benefits the host countries’ economies and our customers. Our strategy is to provide the highest quality standards. The size of the network and proximity to a Tempo Money Transfer location, are important parameters,” said Mr. Phaneuf.
Tempo’s main assets include a pan-European money transfers license, issued by the Bank of France in 2011, state-of-the-art IT-infrastructure, as well as its team having collective work experience of 30 years.