The Western Union Company (NYSE: WU), a leader in global
payment services, and OMV, the leading energy group in the European growth belt
with headquarters in Vienna, Austria, have agreed to work together to provide
Western Union(R) Money TransferSM services at OMV retail locations.
The cooperation represents a significant step in Western
Union's strategy to expand and diversify its Agent network into different
classes of trade. It complements the company's strategy to sign up retail
locations under the European Union Payment Services Directive which allows
non-bank entities to offer financial services under a payment institution's
license. The cooperation with OMV will also help Western Union attract
mainstream customers to its money transfer service, as well as promote
intra-Euro and domestic money transfers.
Western Union's national and international money transfer
services will be offered at more than 1,800 OMV filling stations in Austria,
Bulgaria, Czech Republic, Germany, Hungary, Romania, Slovakia and Slovenia. The
service will be rolled out over the next 18 months and is a further step in OMV
and Western Union's respective strategies.
This is the first cross-regional filling station signing of
this size in Europe for Western Union. It represents an excellent opportunity
for Western Union to expand its distribution network in the region. The
cooperation will add more than 300 new locations to Western Union's existing
network of over 2,900 Agent locations in Austria, and a total of more than
1,800 new locations to the existing Agent network in Central and Eastern
Europe.
OMV filling stations have been increasingly developing into
multi-functional service centers, putting the needs of the modern mobile
customer center stage. In the VIVA shops, customers enjoy refreshments and
on-site prepared snacks with premium quality. OMV is also continuously
expanding its range of tailor-made services for its customers. In April 2010,
the OMV network with VIVA shops in Austria was equipped with special Automated
Teller Machines (ATMs) which feature a cash-dispensing function, as well as a
function to allow customers to make fund transfers and deposits. With the
Western Union Money Transfer service, OMV significantly steps up its range of
services all over the Central East European and Southeast European region.
Now customers can also transfer cash from one filling
station to another filling station. Hikmet Ersek, CEO-elect of Western Union,
said: "OMV has an excellent network of filling stations throughout Central
and Eastern Europe. We view the cooperation with OMV as a valuable opportunity
to pursue further growth, add filling stations to our Agent network in Europe
and offer more customers the opportunity to experience the speed, convenience
and reliability of the Western Union Money Transfer service."
Dr. Gerhard Roiss, OMV Deputy Chairman, said: "Western
Union is an ideal partner for OMV. The introduction of the Western Union
service will complement our strategy of providing a wide range of services to
our customer base. We look forward to launching with Western Union over the
next 18 months."
Western
Union
