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

health.

Mr. Phaneuf said that in 2016, the company will follow its main goals and

principles.

“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.

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