International remittances provider, Tempo Money Transfer, started its operations in Cuba and Haiti in alliance with 'More Money Transfers'. The Paris- headquartered company and Uruguay-based operator successfully established the joint project and commenced remittances from Tempo's locations in France and Germany with the option to receive funds in More Money's locations in the two Caribbean countries.
The number of locations exceeds 300 in Cuba and reaches nearly 500 in Haiti.
The service opens the door for account-crediting in Cuba.
Both parties believe that the project has great potential.
“Just recently Cuba started taking its first steps towards integrating into the global economy, which means more prospect for tourism and, in future, likely more options for Cubans to travel and work in foreign countries,” said the president for Tempo Money Transfer, Mr. Jeffrey Phaneuf.
He said also that the demand for the services of genuine European standards is on the rise in Haiti, which has traditionally been one of the most lucrative tourist destinations.
The Montevideo - headquartered company said that the joint project in which the two companies successfully commenced, is a significant step forward, even to the regional money transfer market.
“Cooperation between Tempo and us is focused on a very important and promising money transfer corridor. The start manifests its further development throughout all Latin America, where our company has a strong position and where there has been a stable demand for EU-quality services,” the company said.
Currently, Tempo Money Transfer operates over 70 locations in France and Germany. The EU-licensed remittances provider has been very active on the international money transfer curcuit.
For the past 12 months it has released ambitious projects in Asia, Northern and Equatorial Africa, as well as in Europe.
According to the company’s 2015 results, Tempo Money Transfer operates in over 100 countries and the number of service locations exceeded 180 thousand.
One of the main priorities of the company, is an introduction of low transaction costs, which makes for a decrease in the black market and bringing remittances into regulated view.