The government has passed the act in June 2009, allowing non-banks to conduct money transfer operations. On successful registration of Western Union as a money-transfer provider, Travelex is expected to become Western Union’s agent under the new law to offer the Western Union Money Transfer service in Japan.
Matt McCarthy, regional divisional director of Asia-Pacific of Travelex, said: “Joining forces with Western Union has allowed us to provide fast, convenient and reliable services to our consumers around the world. We look forward to offering our consumers in Japan additional options to meet their money-transfer needs.”
Andrew Ong, regional vice president of North Asia at Western Union, said: “Japan’s new Financial Settlement Act offers consumers greater choice when sending money overseas to family, loved ones or for other individual purposes and expands the options for receivers to pick up their money transfers at additional locations.
“Upon successful registration by Western Union, our agreement with Travelex will provide consumers in Japan the opportunity to send money to any one of Western Union’s more than 350,000 Agent locations in 200 countries and territories.”
