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Society

UBPay and URemit Announce Partnership

The Armenian money transfer system UBPay has partnered with URemit, a Canadian company specializing in international remittances. This partnership will enable customers to send money from Armenia to the USA, Canada, Vietnam, the Philippines, the UAE, Egypt, Thailand, India, China, Indonesia, Sri Lanka, and European countries within the SEPA zone — and vice versa.

Transfers from Armenia are available in AMD, USD, or EUR, and received in the destination country’s local currency through a bank account, payment card, or cash pickup. The URemit partner network includes over 150,000 payout locations. Transfer fees start at 1%.

The expansion into new markets marks a timely and significant milestone for UBPay. According to official data from the Central Bank of Armenia, in the first six months of 2025, total money transfers to and from Armenia via fast money transfer systems increased by 6.64% compared to the same period in 2024.  The average monthly growth in transfers during January–July 2025 was around 8.2%.

The partnership with URemit broadens UBPay’s geographical reach, offering customers more favorable terms and exchange rates. Currently, UBPay holds over 30% of Armenia’s money transfer market and plans to expand its partner network while increasing its market share in the near future.

“We understand how important fast and reliable transfers are for many families today. These transactions are essential for financial stability, helping to cover daily, educational, and medical expenses. Cooperation with URemit is a significant step toward expanding the availability and convenience of our services. We are pleased to partner with a technologically advanced and dynamically developing company, enabling us to offer customers even more opportunities for fast and secure money transfers,” said Seyran Sargsyan, CEO of UBPay.

UBPay is a technological platform providing a trusted solution for remittances. It offers a robust modern fintech solutions, allowing banks and remittance firms to integrate money transfer services seamlessly. With comprehensive documentation and dedicated support, UBPay ensures a quick and hassle-free setup, enabling partners to focus on delivering exceptional customer service.

UBPay operates under Decision No. 32Ա of the Central Bank of Armenia. The operator and settlement bank of UBPay is Unibank.

URemit was incorporated in 2006 as a money services business provider and is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under MSB regulations.

The Central Bank of Armenia granted a cooperation permit for the partnership between UBPay and URemit on July 29, 2025.