ABS-CBN unit, Western Union form strategic alliance
MANILA, Philippines – A unit of ABS-CBN Corporation inked a 3-month contract with New York Stock Exchange-listed The Western Union Company for a promotion seen to attract new customers and retain the old ones.
The executives of ABS-CBN Global Group and Western Union on Tuesday, May 24, signed a memorandum of understanding for a 3-month promotion, giving the money remittance firm’s clients complimentary access to an archive of TV programs of the network’s The Filipino Channel.
Although it may sound like a simple promotional stunt of two companies servicing overseas Filipino workers (OFWs), Patricia Riingen, Western Union Senior Vice President for Southeast Asia and Oceania, said this is a big deal for both companies.
"It will help improve our businesses at two fronts through attracting a new set of customers and serving as a retention strategy. Hopefully, we can get them (consumers) to come back," Riingen told reporters on the sidelines of the event in Quezon City.
Under the agreement, the offer is open to all consumers in participating countries who send money to the Philippines through Western Union or Vigo.
Riingen explained that agent retailers in about 100 countries will be able to offer this promotion to clients from May 15 to August 16 this year.
"Each transfer paid out in the Philippines within 5 days from the transaction date qualifies the sender to one redemption of TFC.tv Lite package valid for 30 days. A maximum of 3 redemptions is allowed for each sender during the promotion period," Riingen said.
ABS-CBN Global Chief Operating Officer Raffy Lopez said the offer will be available in North America, Asia, and Africa, where there are many OFWs.
"Western Union is a leading global money transfer company with services available in over 200 countries and territories. Our collaboration with Western Union will give more consumers who send money back home to the Philippines an opportunity to remain updated with news and entertainment," Lopez said.
Personal remittances by OFWs reached $2.7 billion in March 2016, 1.4% higher than in March 2015, latest data from the Bangko Sentral ng Pilipinas showed.
The US, Saudi Arabia, Ubited Arab Emirates, Singapore, Hong Kong, the United Kingdom, Japan, Qatar, and Kuwait contributed more than three-fourths of cash remittances for the first 3 months of the year. – Rappler.com