Launched in 1999, an instant money transfer product called ‘Money Anywhere in Minutes’ grew from strength to strength to become the powerhouse that Xpress Money is today. Transforming a business from a financial service product to building it as one of the most dependable brands of repute in the realm of global remittances is not a cakewalk. However, the global team at Xpress Money has relentlessly persisted, adding new locations to build a robust network, meeting money transfer needs of global customers 24X7 and integrating a culture of compliance across the organisation. Twenty glorious years later, Xpress Money has built its global footprint across 200,000 locations in more than 170 countries and is still counting. In the dynamic money transfer industry, Xpress Money has not only held its own but reinvented itself during the last 20 years.
It is a moment of reflection and pride for us, at Xpress Money, as we pause to celebrate our journey and the milestones that defined our success over the last two decades. Soon after registering in the UK in 1999, we grew our network and operations year on year. From a presence of only ten countries in 2001, our network strength increased to 75 countries in 2007, 160,000 locations in 2018 and 200,000 locations as of 2019. Matching pace with the demands of the market and customers, we continued to strengthen our cash pay-out service channels across the globe and simultaneously flourished within the ambit of non-cash service offerings like bank account credit and mobile wallet services.
Comfort zones can be deadly for any business, even more so for a money transfer business thriving in an industry that is undergoing a paradigm shift. To this end, we played to our strengths by offering customised remittance solutions like Xpress Money FLEX and Xpress Money ONE to leading banking institutions and fintech players; cementing our position as the preferred ‘partner of choice’. The remittance industry continues to evolve on the premise of collaboration, and we have our eyes set on fostering partnerships to explore diverse opportunities and avenues that will set us up for a compelling future.
The biggest takeaway from our journey over the last 20 years is that real success lies in sustainability and pertinence. Recreating the financial services wheel is not an ideal solution for the long haul but what is sure to work is reinvention. We believe that reinvention is central to our growth strategy and has been integral in helping us drive last-mile delivery and financial inclusion.
2020 marks the dawn of a new decade on the calendar year and for us at Xpress Money. We are buoyant about our role in facilitating the burgeoning demand for convenient money transfer needs of evolving digitally savvy customers. But for now, it’s time to celebrate!
Also read 2019 – Stepping Into The 20th Glorious Year Of Being Xpress Money
