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MoneyGram, Nova Bank to expand in Bosnia and Herzegovina

Monday 10 September 2012 09:47 CET | News

Global money transfer company MoneyGram has expanded its business operations in Bosnia and Herzegovina, the second-largest send and receive remittance market in Eastern Europe, by partnering financial institution Nova Bank.

As part of the deal, Nova Bank customers will now be able to send and receive international money transfers at more than 40 Nova Bank locations across rural and urban Bosnia through MoneyGram’s global network.

According to the World Bank estimations, Bosnia has the 12th-highest proportion of its population living abroad, with more than 1 million Bosnian citizens living and working outside Bosnia. The majority of money transfer sends to Bosnia originate from Austria, Germany, Switzerland and the US.

In recent news, MoneyGram has entered a deal with Chinese bank card organisation China UnionPay (CUP) to provide emergency cash services to UnionPay credit card cardholders.
 


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Keywords: MoneyGram, Nova Bank, remittance market, payments , money transfer
Categories: Payments & Commerce
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Countries: World
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