Alankit Forex India Ltd., a market leader in foreign exchange and e-governance in the country, and Western Union, a global leader in cross-border, cross-currency money movement and payments, have collaborated to offer Western Union international money transfer services, expanding greater access to consumers in India, the World's number one receiver of global remittances.
Customers in India will now be able to receive Western Union money transfers, in minutes, at select Alankit Forex India locations, offering extended business hours from 10 am to 8 pm, seven days a week. Alankit Forex India has plans to expand services to 2,000 of its locations across the country.
Senders worldwide can send money using Western Union's digital services in more than 75 countries plus territories, or through Western Union's worldwide retail agent network.
"Western Union has been moving money into India for 27 years, connecting millions of customers globally as they send money to their family and loved ones, across urban, rural and remote parts of the country. We are always seeking to enhance all the values that are important to our customers - convenience, reliability, and speed. We are delighted to expand our reach in India by working with a local market leader Alankit, providing customers with seamless money transfer services," said Gaurav Yadava, Country Director - India, Western Union.
For decades, Western Union has been moving money for better across the globe, connecting family, friends, and businesses. Western Union already serves customers in India from an extensive network of Agent locations and is continuing to grow its robust network in India.
Commenting on this agreement, Mr. Ankit Agarwal, MD Alankit said, "We are delighted to be partnering with Western Union for their money transfer services. This partnership will give our customers the speed and reliability to receive money transfers in India from almost anywhere in the world. We have always strived to deliver the best to our customers, and international remittance services will expand our portfolio further. This will be an additional opportunity for our business partners to experience exponential growth. This foray will help us in building a stronger image, thus enabling us to scale up the business and achieve our vision."
Shares of Alankit Ltd was last trading in BSE at Rs.16.5 as compared to the previous close of Rs. 15.9. The total number of shares traded during the day was 52072 in over 153 trades.
The stock hit an intraday high of Rs. 16.85 and intraday low of 16.05. The net turnover during the day was Rs. 853859.