As part of the agreement, Western Union services will be available at 8,000 Sberbank branches in 2011.
The two companies plan to expand the network when Western Union international money services become available for consumers at all Sberbank branches that are integrated into the bank’s BLITZ money-transfer system, representing 9,000 locations in 2,800 cities and residential areas across Russia.
The first year of the partnership will be focused on the consumer-to-consumer Western Union money-transfer service at Sberbank branches. Afterwards, the two companies will launch account-based money transfer services which will enable the bank’s clients to transfer money directly from their bank accounts online to one of the 386,000 Western Union Agent locations in 200 countries around the world.
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