MTS LAUNCHES MONEY TRANSFER SERVICE

Thursday, April 15, 2010
We are launching an instant money transfer service using our retail network to provide customers with the ability to make money transfers in Russia and abroad. This will allow us to expand our service portfolio, as well as to attract more customers to our retail stores.

Currently, customers can transfer money after paying a commission that amounts to 1.6% of the total amount for intra-Russia transfers and 2% for transfers to the CIS. In the near future, the service will expand outside of the CIS to include transfers to such countries as Bulgaria, Germany, Israel, Spain, Italy, Canada, China, Poland, Vietnam, the UK and the USA. Customers can make use of the service at all MTS-owned stores in Russia - the current list of locations is available on our Russian-language website.

As our press secretary noted in an interview to a business newspaper RBC Daily, we are aiming to gain a 4% share of the instant money transfer market by the end of 2010. The market is estimated to be worth anywhere from $8.4 to $10 billion.

MTS partnered with Rapida Payment System to provide this service. Customers can collect transfers at any of the 18,000 Rapida locations around the world, including 3,500 spots in Russia and the CIS. There is no minimum amount for transfers, and the maximum amount is set at 150,000 rubles. Customers can only send money in rubles but may choose to receive it in other currencies such as US dollars or Euros, based on exchange rates of the location where the funds are retrieved. In addition, MTS is offering an SMS notification service, allowing the receiver to retrieve the transfer by showing his personal identification documents and the SMS with the transfer code.

Tags: , , , ,

blog comments powered by Disqus

Recent Tweets

Follow me, Josh Tulgan, MTS Director for Corporate Finance and Investor Relations, on twitter

Twitter June 21, 14:24
Hey everyone! We have established a new account - @MTS_IR - which will serve as the official mouthpiece for #MTS… https://t.co/cIQfxnxt5e

Twitter June 21, 09:32
RT @MTS_IR: #MTS to sell #E-health services in North-Western #Russia $MTSS $MBT #MTSgoesdigital https://t.co/gDEL7G5bfN

Twitter June 20, 22:00
BB Stable from S&P $MTSS $MBT https://t.co/nFX9VFJr8b

Twitter June 16, 14:15
RT @MTS_IR: #MTS launched EasyStart solution to motivate small business using online cash registers to cut costs and comply with new regula…

Twitter June 13, 22:58
RT @MTS_IR: 🏆 Moscow is #2 among European cities in integration of #SmartCities solutions in urban life and #1 in terms of readiness of cit…

Note: For Customization and Configuration, CheckOut Recent Tweets Documentation