A leading global payment services company has launched its home delivery service for money transfers to Pakistan from the United Kingdom, claiming that it would be reliable, affordable, fast and convenient. Money Gram International is the US-based company and has been in business since 1940.
The new product has been launched with the collaboration of Citibank Pakistan which will allow customers to request conversion of a money transfer to a bank cheque and its direct delivery to their home or business address. The event to mark the occasion was held at the Pakistan High Commission in the presence of High Commissioner Dr Maleeha Lodhi, Deputy High Commissioner Abdul Basit and other senior officers of the Chancery.
Speaking on the occasion, Mark Perryman, Regional Director, UK & Ireland, said the delivery service represents greater convenience for customers receiving money who traditionally are required to physically collect funds from a Money Gram agent location. The company offers this type of home delivery service in selected few countries, he said.
He said Pakistani community is one of the largest communities in the UK and continues to maintain strong ties with their mother country and one of the ways to demonstrate this close link is through remittances.
Perryman said that about 270 million pounds annually are sent to Pakistan from UK from the expatriate Pakistanis. He said low charges of sending money to Pakistan has proved to be very much appealing to the Pakistanis living in UK and the company would continue to attract new customers each day.
The transactions to Pakistan, he said, doubled in 2007 and the company has been pleased to deliver this high-class service to the entire satisfaction of the customers.
Paul Thomas, new Channel & Product Development Manager, explained the salient features of the service and said that service delivers the money to a Pakistani address within 24 to 48 hours after a request has been received from a UK customer.
Responding to questions, Perryman said the challenge from the informal sector (Hundi system) is significant. We recognise that it is extremely large but it is changing with the time and to meet it head-on, the company is now offering this new scheme. The company's global network is comprised of approximately 143,000 agent locations in 170 countries and territories around the world.