Visa and UAE Exchange have joined forces to bring to market the Visa money transfer service in the UAE. The service will be offered through UAE Exchange’s network of 80 branches across the country. The service is said to offer consumers a convenient, cost-effective and secure way to send funds directly to recipients’ Visa cards domestically and internationally.
Remitters in the UAE can go to any UAE Exchange outlet, register their beneficiary’s Visa debit, credit or prepaid card and send funds to that card virtually anywhere in the world. The recipient will receive the funds in their Visa card account and be able to use those funds at point of sale or withdraw cash from any Visa ATM, without having to go to an agent location or wait in queues for cash.
Kamran Siddiqi, general manager for GCC in Levant, Pakistan and Afghanistan, at Visa, said: “Visa is well positioned to facilitate secure and cost-effective money transfer services in the UAE by our global network that connects 1.7 billion Visa card accounts. We are delighted to partner with UAE Exchange, their established brand and distribution strength are key to reaching end consumers.
“Visa is constantly looking for new and innovative ways to extend our services to new market segments and we believe consumers will be thrilled to be able to take advantage of the convenience and peace of mind that comes with a Visa remittance.”
Sudhir Kumar Shetty, COO of global operations at UAE Exchange, said: “UAE Exchange has been continually exploring opportunities to bring in added value to customers, by leveraging on the network and reach that we have built in the UAE and the 21 other countries where we operate today. Strong partners like Visa help us to enhance our value proposition to our customers. Visa Money Transfer brings in a new era of convenience to the residents of UAE, and customers can avail the service from any of our 80 branches in the country.
Sachin Bountra, business development director for Middle East at Visa, said: “UAE Exchange has proven to be the favoured choice for remittance services for consumers in UAE over the past 3 decades. Visa’s partnership with UAE Exchange represents a new means of bringing our money transfer service to where consumers prefer to go for their remittance needs. This launch will initially focus on the UAE – Philippines corridor.”
