Coinstar expands Chinese money transfer operations

On 9 July 2009, Coinstar Inc stated that Coinstar Money Transfer Limited of China, its Chinese subsidiary, has entered into a deal with China Construction Bank (CCB) to expand its money transfer services in China. The deal would enable expansion of Coinstar's money transfer services from 1,500 branches in 24 Chinese provinces to an additional 1,000 CCB branches and 13 more provinces.

Chief Executive Officer, Coinstar Money Transfer, Mohit Davar said “With the strength of China's import and export industry, the demand for sending funds out of the country is growing, thereby creating a good opportunity to expand our business in this region.”

Source: Business Journal