Monday, 11 April 2016
Tempo Money Transfer issued Q1 2016 operational results. Services available in 190,000 locations in 120 countries
The international France and Germany – based remittances service provider issued
operational results of its activity in January – March of 2016.
The Paris-headquartered money transfer company said in a statement that the
number of service locations has reached 190,000 and the number of countries
where its services are present, exceeds 120.
In his comments to the results, the president for Tempo, Mr. Jeffrey Phaneuf said
that the 1st quarter of the year was marked by intensive development as far as the
new partnership commencement is concerned and reaching planned operation
levels in projects already existing.
Thus in Morocco, where the company started its activity a year ago, the number of
locations reached 2600.
Within the period, Tempo built up its activity in Africa where services are due to
start in nearly 20 new countries including Uganda, Rwanda, Togo, Mali, Benin,
Burkina Faso and Niger.
“As a company specialized in outbound transactions from one of the most vibrant
EU markets, (France and Germany) , we pay special attention to the developments
in Africa and Asia. The demand for services is coming mostly from working
migrants. We can clearly see the increasing trend in the number of African and
Asian nationals settling in European countries. Hence the demand for low cost and
quality services is growing,” Mr. Phaneuf said.
Tempo’s president mentioned also that the company managed to widen its product
line. A project to make remote bill payments took flight in the Philippines in
January – March.
Its successful completion enables clients to settle their utility bills in the
Philippines, from its locations in France and Germany. The spectrum of which,
includes electricity, water, internet, mobile services, cable TV, insurance and
Mr. Phaneuf said that in 2016, the company will follow its main goals and
“We are looking at increasing our financial indicators in each project. We will
make accent on low transaction costs. This makes for an effective decrease in the
black market and brings money transfers into the open, regulated sphere. This
benefits the host country's economy and our customers,” said the president for the
Banque du France -licensed company.