TOTAL TRANSFERS THROUGH UNISTREAM TO REACH IN ARMENIA $650-670 MLN BY LATE, 2007

2007-12-12 19:12:00

ArmInfo. The total volume of transfers through the Unistream system
will reach in Armenia $650-670 mln by late, 2007, the press-service
of the Unibank, being an affiliated structure of the Russian
Uniastrumbank, Unistreambank and the Unistream system of money
transfer, told ArmInfo.

According to the source, the total volume of transfers through
this system in Armenia made up over $584 mln in January-November,
2007, having exceeded the indicator of the similar period, 2006,
1,6 times. About 50% of the Armenian market of money transfer fell
on the Unistream system.

The high rates of growth of this system turnover have been stipulated
for the rate of transfers and a zero commission during the amount
receipt in drams. Presently, the Unistream system has been represented
in over 80 countries of the world. As the Unistream’s analytical
department ‘told ArmInfo earlier, having entered the year 2007 with 25
000 service points, the system increased their number to 46,000 over
January-September. An intensive work was also carried out as regards
development of additional services. The following 4 banking products
were launched in 3Q, 2007: receipt of payments Unistream-Money.Mail,
receipt of payments Unistream-Web.Money, receipt of payments on
replenishment of accounts in the Uniastrumbank, replenishment of
plastic cards Unistream – Unibank (Armenia).

In 3Q, the Company’s management made an important strategic decision:
it was claimed about the Company’s intention to start fulfillment
of absorption (purchase) of other companies-operators. Summing up
the third quarter, Director General of the system Souren Ayriyan
said that the Unistream speeded up the system development in all
directions. "Setting grand goals, we aim at reaching 5% of the world
markets within about 10 years if such development rates preserve,
and I see no reasons preventing its fulfillment", he said.

From: Emil Lazarian | Ararat NewsPress