Soneri, Xpress Money collaborate

KARACHI: Soneri Bank Limited has partnered with Xpress Money, a global leader in international transfer and payment services, under the umbrella of Soneri Mehnat Wasool Remittance, to provide money transfer services, a statement said Friday.

This new collaboration allows Pakistani expatriates from all over the world to send money to their families and friends from over 150 countries across 170,000 agent locations of Xpress Money worldwide. Customers can also pick-up cash instantly through Soneri Mehnat Wasool Remittance without the need for a bank account. The amount remitted from abroad is paid in rupees and can be collected at more than 265 Soneri Bank branches in 127 cities across Pakistan.

Soneri Bank’s SEVP and Group Head Shahid Abdullah said, “We believe that partnering with Xpress Money will play a pivotal role in boosting remittance inflows to Pakistan globally. It will also help to build up foreign reserves. We believe this collaboration has benefits for both institutions and is aligned with Soneri Bank’s vision.”

Xpress Money, Pakistan Country Manager Rizwan Ali Hamdani said, “This collaboration with Soneri Bank will give us an opportunity to leverage our services through their wide network. With Pakistan being an important market and remittance inflows expected to grow exponentially, it is imperative that we strategically expand our presence in this market.”