Tempo Money Transfer starts operations in Cuba and Haiti, in alliance with 'More Money Transfers'

International remittances provider, Tempo Money Transfer, started its operations in Cuba and Haiti in alliance with 'More Money Transfers'. The Paris- headquartered company and Uruguay-based operator successfully established the joint project and commenced remittances from Tempo's locations in France and Germany with the option to receive funds in More Money's locations in the two Caribbean countries. 

The number of locations exceeds 300 in Cuba and reaches nearly 500 in Haiti.

The service opens the door for account-crediting in Cuba.

Both parties believe that the project has  great potential.

“Just recently Cuba started taking its first steps towards integrating into the global economy, which means more prospect for tourism and, in future, likely more options for Cubans to travel and work in foreign countries,” said the president for Tempo Money Transfer, Mr. Jeffrey Phaneuf. 

He said also that the demand for the services of genuine European standards is on the rise in Haiti, which has traditionally been one of the most lucrative tourist destinations.

The Montevideo - headquartered company said that the joint project in which the two companies successfully commenced, is a significant step forward, even to the regional money transfer market.

“Cooperation between Tempo and us is focused on a very important and promising money transfer corridor. The start manifests its further development throughout all Latin America, where our company has a strong position and where there has been a stable demand for EU-quality services,” the company said. 

Currently, Tempo Money Transfer operates over 70 locations in France and Germany. The EU-licensed remittances provider has been very active on the international money transfer curcuit.

For the past 12 months it has released ambitious projects in Asia, Northern and Equatorial Africa, as well as in Europe.

According to the company’s 2015 results, Tempo Money Transfer operates in over 100 countries and the number of service locations exceeded 180 thousand.

One of the main priorities of the company, is an introduction of low transaction costs, which makes for a decrease in the black market and bringing remittances into regulated view.

YES Bank ties-up with Global IME Bank

YES Bank becomes the first bank in India launching Indo-Nepal remittance for Nepalese residents in India. 
YES Bank, India’s 5th largest private sector bank, today announced the launch of its Indo-Nepal Remittance through its collaboration with 3 Banks in Nepal viz. Global IME Bank, Mega Bank and NMB Bank.
Nepalese migrants can now register for this program with Nepalese ID documents and initiate remittance. They can deposit cash and this money will be remitted to the beneficiary’s bank account or cash will be disbursed though over 3000 agent points and 100+ branches of Global IME Bank, Mega Bank and NMB Bank in Nepal.
There are over 4 million Nepalese citizens in India, remitting an estimated amount of INR 30,000 Crores annually, of which only about 10% go through formal banking channels. 

Peru remittances

Remittances to Peruvian amounted to US$721 million in 2016's second quarter.
Representing an 8% increase from the same period last year, Peru's Central Reserve Bank (BCR) reported

First position by USA. Remittances from the United States accounted for 26% of the total (between April and June 2016).

Chile held the second position (10%) with a 13% growth, followed by Italy (up by 38%).

Likewise, remittances from expatriates in Japan and Argentina grew by 9% and 25%, respectively. However, Spain-originated flows decreased 2%.