Hersing entered into a joint venture with Western Union Financial
Services Inc. of U.S.A to provide money transfer services in order to grow and diversify
our income source. Western Union is a recognised leader in payment systems, money
transfer, electroniccommerce and information management products and services. Its network
extends to 212,000 agent locations in over 195 countries & territories.
Western Union Global Network is our 51% owned
subsidiary which is licensed to provide money transfer services in and out of Singapore.
Western Union Financial Services Inc. of U.S.A owns the remaining 49%. With Singapore's
favourable geographical location for international travellers and its large number of
foreign workers, Western Union has good growth potential.
Western Union is an international brand name
known and available to billions of people as "The fast way to send money
worldwide."
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