September 23, 2016
Tempo Money Transfer enters Canadian market
The Europe-based international remittance provider, Tempo Money Transfer, has signed an agreement with Miami-headquartered company, CAM Transfer, to commence joint operations in the Canadian market.
The integration project completion will enable clients to send money
from over 180 Tempo locations in Germany and France and collect cash in CAM's agent locations in Canada.
CAM Transfer is in partnership with over 40 agents, according to general manager for the company, Mr. Fred Tony.
The president for Tempo, Mr. Jeffrey Phaneuf said it is the first project for the company in North America.
"We see great potential in this remittances corridor (Germany and France to Canada). This is due to growing economic ties and quite large various ethnic communities, present in all three countries," he said in his comments of the large scale joint venture. He went on to say that according to company estimations, the market volume is currently in the range of $30 - $32 billion, with the potential to grow further.
He said the segment has experienced between 14-15 per cent growth year-on-year. Mr. Phaneuf added that Tempo has been actively carrying out its program of international development. It's wide range of services, from account crediting to cash pick-up and cell phone topping, is available in over 120 countries, with the number of locations exceeding 195,000.
Mr. Tony is also very positive about the project's prospects. "We will be able to provide clients with excellent quality of service. Given the positions of Tempo and CAM in the market and growing demand, we are confident in our opportunities to jointly achieve new operational and financial heights. We believe the collaboration is going to be very fruitful."