Tag Archives: Xpress Money

Xpress Money registers a 10% growth in 2017

Xpress Money registers a 10% growth in 2017

Remittances from the GCC remain strong; 2018 expected to witness continued growth

Dubai, February 4, 2018: Xpress Money, one of the world’s most dependable money transfer brands, witnessed a 10% growth in its global operations in 2017. The growth was backed by new partnerships in crucial corridors, innovative solutions, and a global expansion in the Xpress Money agent network.

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Millenials drive the need for innovation in the remittance industry

Millenials drive the need for innovation in the remittance industry

Digital natives want physical transactions to be complemented by digital channels

Dubai, October 8, 2017: Xpress Money is doubling down on its efforts to create new digital channels and augment existing ones as research shows Generation Y – or millennials –want to be able to conduct financial transactions online and through their smartphones.

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UAE is likely to see increased cashless transactions by 2020

UAE is likely to see increased cashless transactions by 2020: Xpress Money’s Strategy & Digital Chief

~Regulatory frameworks and foundations being laid for rapid transition to cashless payments~

Dubai, August 14, 2017: Cash is still the reigning king, but that is likely to change rapidly given the UAE’s thrust towards cultivating smart economies, says Xpress Money’s Associate Vice President – Strategy, Digital & BIA, Arundhoti Banerjee.

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Xpress Money sees 12% rise in remittances in the first two weeks of Ramadan

Xpress Money sees 12% rise in remittances in the first two weeks of Ramadan

~ Season of generosity translates to more remittances to friends and family back home ~

Dubai, June 24, 2017: Xpress Money, one of the world’s most dependable money transfer brands has recorded a 12% increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first 2 weeks of Ramadan last year). The increase is reflected in outward remittances to South Asia, the Levant and other parts of the MENA region.

“Ramadan is the month of giving, and we traditionally witness that remittances back home to friends and loved ones increase during the month. This year, we have registered a 12% increase in remittances in the first two weeks of the holy month, and this figure may change once we tabulate data for the entire month after Eid-al-Fitr. The increased remittances are a sign of generosity, and also help families back home prepare for Eid festivities,” said Xpress Money’s COO, Sudhesh Giriyan.

The increased remittances are part of a broader shift in spending, consumption and behavioural habits during the holy month. Last year, a comprehensive GCC-wide survey by Xpress Money showed that 44% of UAE expatriates transferred more money to their loved ones during the month, while 69% spent more on charitable acts. 43% of respondents also said that they spend more time socialising with friends and family during Ramadan.