Partners with Small and Medium Industrial Development Bank (SMIDB) and Myanmar Citizen Bank (MCB)

Becomes the second Global Money Transfer Brand to enter the Country

Myanmar, 10 June, 2013

Xpress Money, the world's most dependable money transfer brand announced its entry into the Myanmar market by partnering SMIDB and MCB- two premier banks in the country. With this launch, Xpress Money's services will be available from close to 120 locations in Myanmar, consolidating the branch networks of SMIDB, MDB and its linked banks. With this launch, Xpress Money is the second international money transfer operator to set foot in Myanmar. The brand plans to make its services available across 150 additional locations by the end of 2013.

With over 3 million migrants from Myanmar working abroad, the country receives sizeable amounts of remittances every year, coming chiefly from South Asia & the Middle East. Xpress Money's launch in Myanmar widens the base of the nascent remittance industry in the country and is likely to have a positive impact on its overall economic growth. Through the partnership with SMIDB & MCB, Xpress Money will be able to offer its convenient inbound remittance services to thousands of families of migrants.

Xpress Money will offer two of its most popular services, Cash to Cash & Cash to Account in Myanmar. As the name suggests, Cash-to-Cash is a service where the payout to the remittance recipient happens in cash, while Cash- to-Account is the service where remitters can send money directly into the bank account of their loved one.

Mr. Sudhesh Giriyan, Vice President and Business Head of Xpress Money, said: "We are very happy to be launching our services in Myanmar, through our tie-up with esteemed financial institutions such as SMIDB and MCB. Myanmar is an emerging remittance market, with over 3 million of its people residing and work abroad, hence we see a lot of potential for growth here. More international money transfer operators in Myanmar means that the customer will have more choice while sending and receiving money. Xpress Money is committed to providing best value to our customers through innovative services, affordable transfer fees and a growing agent network."

Mr. Win, Managing Director, Myanmar Citizens Bank, said, "We are delighted to be partnering with Xpress Money, one of the world's fastest growing money transfer companies. We definitely perceive this as a long term business partnership that will add value to our customers. Currently we will offer these services from 88 locations combining both our direct locations and those of our linked banks; however in the next two years MCB plans to grow the number of its direct branches by over 20 locations. This will make our services more accessible to our customers."

Mr. Tin Muang Htay, Managing Director of SMIDB Bank said, "Myanmar is a growing economy and SMIDB is committed to making its contribution towards this growth. Through this partnership with Xpress Money we hope to work together to build better tomorrow for the people of this country. Remittances from Myanmaris residing abroad play an important role in securing this future, and we are happy to be aiding this development through this tie-up. "

Remitters can send money back home by walking into any of the 170,000 Xpress Money agent locations across the globe and the amount can be received instantly in Myanmar. A unique 16-digit Xpress Personal Identification Number (XPIN) will be provided to the remitter (sender) that has to be shared with the beneficiary. Using that XPIN, the beneficiary can walk into any of the MCB and SMIDB branches to collect the money. Once the amount is credited, the remitter will receive a confirmation via SMS, thereby making the service simple, safe and dependable.

-Ends-

About Xpress Money:
Xpress Money is a global money transfer brand with a thriving presence in more than 150 countries in 5 continents across 170,000 agent locations across the world. Working towards the goal of Bringing Home Closer to millions of migrants residing away from their homes, Xpress Money has come to be known as the most dependable international money transfer brand. Xpress Money provides its customers a simple, fast & safe way to transfer money anywhere in the world through innovative technology, superior customer service and its extensive worldwide network. For more information, visit www.xpressmoney.com

© Press Release 2013