Payment news, October 5

The State Bank of India and Western Union launch a mobile money transfer service, while the Philippine Stock Exchange migrates to a new trading platform.

State Bank of India enables cross-border mobile money transfers via Western Union 

Western Union announced that it will launch a mobile money transfer service with the State Bank of India SBI at the beginning of 2011. SBI customers will be able to receive cross-border money transfers using their mobile phones.

India is a key market for Western Union,” said Anil Kapur, South and Southeast Asia senior vice-president at Western Union, in a statement. “Western Union has more than 61,000 agent locations in India. As we continue to expand our network, this collaboration with SBI realises our commitment to provide our customers with the greater convenience of accessing...

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