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June 1, 2012

Western Union to launch alternative to bank account in El Salvador

The new product will be an alternative to bank accounts and will give Salvadoran consumers a safe way to manage their money and a convenient method to shop online and at retail, Western Union said in a letter. Further information was not disclosed, but Mike Hafer, senior vice-president of global cards at Western Union will host an official announcement together with Western Unions partners in the region to discuss the new offering on 4 June.

By Verdict Staff

Western Union is going to unveil a new product in El Salvador on 4 June.

The new product will be an alternative to bank accounts and will give Salvadoran consumers “a safe way to manage their money and a convenient method to shop online and at retail,” Western Union said in a letter.

Further information was not disclosed, but Mike Hafer, senior vice-president of global cards at Western Union will host an official announcement together with Western Union’s partners in the region to discuss the new offering on 4 June.

Western Union has taken an aggressive approach to money remittance services and has been extending its network both in terms of product offerings and geographies over the past year.

 

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