Western Union Business Solutions and Kamal Exchange celebrate successful first year of operations in Jordan

Western Union Business Solutions, a business unit of the Western Union Company, a leader in global payment services, and Kamal Exchange Co. LLC are celebrating a successful first year of operations in Jordan of Western Union Business Solutions’ cross-border business-to-business payment service for Small and Medium Enterprises (SMEs). To mark the occasion, a gathering of over 100 key customers was held recently with Nael Kabariti, Chairman of the Jordan Chamber of Commerce as the chief guest, at Amman’s Landmark Hotel. 

Prrasad Katta, Regional Director, MEA, Western Union Business Solutions said, “Since we launched last year, Western Union Business Solutions has made great strides in the market with a rapidly growing number of registered customers. Kamal Exchange has been an amazing partner and in a short time we have managed to achieve strong growth in a very competitive industry.” 

Through Kamal Exchange Co. LLC, Western Union Business Solutions offers foreign exchange and payment services to SMEs in Jordan, enabling them to make fast and reliable cross-border payments in more than 135 currencies. 

“SMEs are the backbone of Jordan’s economy and account for at least half of the country’s GDP[1]. It is our goal to be a real partner to our clients and to offer them strong payment products that help them realize their international business objectives. I am proud that that is exactly what we are achieving. In the year since launch we have seen real demand for stronger cross-border payment services, which offers us an amazing opportunity. The success that we have witnessed so far has only substantiated our decision to launch Western Union Business Solutions in Jordan”, added Katta. 

Ihab Kamal, Chairman of the Board and General Manager, Kamal Exchange Co. LLC. added, “Kamal Exchange prides itself on its ability to identify customer needs and provide products and services that cater to these needs. Western Union is a household brand that everyone trusts and with SMEs accounting for a majority of businesses in the Kingdom, the cross-border B2B service is perfectly in line with what the sector requires. The service allows them to make fast account-to-account payments while improving their cash flow and managing currency fluctuation risk. Hence the success that we have achieved in the first year of operations doesn’t come as a surprise to me; rather I expect the number of actively trading customers to increase in the coming months.”  

At the anniversary event, Western Union launched a special customer acquisition promotion to thank customers for their support that will run from October 1^st until December 31^st. Under the promotion, a current customer will receive a voucher covering the fee (max of USD 35) for one B2B transaction. This voucher can be redeemed during the month of January 2014.