CHICAGO: Set up three decades ago, Moneydart Global Services headquartered in United Arab Emirates, is set to expand its activities horizontally and vertically across the globe.
Y.Sudhir Kuma Shetty, Chief Operating Officer Global operations, said here that his company has applied for a full fledged banking license in India and that it was exploring opportunities to get into banking business in this country too. A decision on its license application with the Indian government is likely in the near future and this will give a big boost to its operations in India, he said.
Talking to newsmen here at its Devon Avenue branch, he said that Monedydart would also be entering a hitherto untapped market in Latin America and would expand its operations in USA too opening more facilities. “The portal is already licensed to operate in 23 States and the company is targeting 50 licenses by 2014,” he said.
Moneydart Global Services, he added, handled over $22.5 billion in 2012 and would do better this year despite overall setback in world economies. He said that UAE Exchange, its parent company, targets to operate directly in 54 countries with a network of 1000 branches in the next two to three years.
Promoth Manghat, Vice President Global Operations, said the company is doing exceedingly well in New York, NJ and Chicgoland, and has already decided to expand its wings by having more agent locations in these areas, especially Illinois.
Prabhakar Patel, Asst. Vice President Head Project America, said there would be 15 more such locations soon going up to 17 across Illinois. He also told this newspaper that the management has already decided to have agent locations in other Midwest States like Wisconsin, Michigan, Iowa Missouri followed by Ohio and Tennessee. “This would precede starting full-fledged money remittance and transfer facilities in these States,” he added.
Ajit Paul, Regional Head America, elaborated on state of art services provided by Moneydart and how it has helped it to win the confidence and trust of the public at large. He said that this wholly owned subsidiary of UAE Exchange had its direct presence in over 30 countries with over 700 branches and worked with over 150 correspondents globally employing 9000 plus professionals.
Sudhir Kumar Shetty pointed out that his company also stands up for various social, humanitarian and environmental clauses joining hands with several NGOs across the globe.
Prabhakar Patel proposed a vote of thanks and invited all those present for a lunch at Tiffin Restaurant.
Asian Media USA adds:
Among various services rendered by Moneydart winning a large client base are:
Money2anywhere offers an online remittance experience with a combination of competitive exchange rates, quick processing of the remittance request and a friendly customer service team. It uses cutting-edge technology to store clients’ information in secure database and ensure total security to each of their transactions. For more information, log on to: www.money2anywhere.com
Xpress Money is simply the fastest way one can send money to anywhere! Its secure, state-of-the-art technology infrastructure and reliable back-end processes enable money to reach to the remitter’s loved ones instantly and safe. For more information, log on to: www.xpressmoney.com
Smart Pay is a unique payroll processing and salary disbursement platform built in-house by the company’s expert technology team. The high-end technology also ensures secure salary disbursement through user-friendly Cash Dispensing Machines. For more information, log on to: www.smartpaysolutions.com
Flash enables real-time credit of money in any bank account. Our strong technology infrastructure and secure back-end processes empower you to send money directly to your loved one’s bank account, real-time. XPay facilitates you to pay for your purchases using your mobile phones conveniently. This secure payment gateway allows you to pay without carrying hard cash, credit cards or even without a bank account. For more information, log on to: www.xpayindia.com
Ramesh Soparawala
India Post News Service
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