Bestway offers money transfer service

Bestway is offering its customers the opportunity to develop their services to customers with the launch of a new money remittance product which provides a fast and secure money transfer solution to South Asia (including Pakistan and India).

The new service, called Omni, comes from United Bank Limited (itself part of the Bestway group and Pakistan’s second largest bank,).

It was was launched in Pakistan in April 2010 and is now the largest branchless banking network in Pakistan with over 12,000 agents processing hundreds of thousands of transactions daily. United is now market leader in the US$14bn Pakistani remittance business with a market share of over 23%.

The launch in the UK will offer the UK’s growing Asian community what Bestway describes as “a reliable payment transfer network which can be accessed in Pakistan and Bangladesh through 1,200 UBL branches and its many thousands of agents.”

Bestway CEO Zameer Choudrey (pictured) commented: “The launch of UBL Omni is part of Bestway Group’s at the Heart of the Community Strategy – which seeks to place our Group’s diverse interests at the very centre of the local communities. It is a matter of great pride for us that UBL is the bank of choice for overseas Pakistanis, who on a daily basis remit funds to their friends and families from all over the world through the Bank’s innovative delivery channels.

“One of the core beliefs of this strategy is to provide affordable and accessible financial services with the aim of enhancing financial inclusion. Bestway’s philosophy is ‘Building Business for the Independents’ and as the wholesale partner to many retail businesses, we are committed to developing new ideas which will help these retailers build their business. Furthermore, in challenging trading times, we need to help retailers seek out new opportunities to diversify their business; money transfer is a fantastic way to bring new customers into store and achieve incremental sales. Omni is an extremely well respected brand in South Asia and our diverse interests mean that we are in a unique position to develop products that will help our customers develop.”

Mansoor Khan, CEO of United Bank UK added: “The Pakistani community send over US$2bn each year to Pakistan alone in money transfer. As the preferred bank of UK Pakistanis, UBL has taken the leadership in money transfer and is the only bank to offer such a service in the UK. We already have a network of almost twenty Omni agents and we want to extend this service nationally so are keen to recruit retailers who want to increase their footfall and overall business. “

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