Wal-Mart to offer Western Union services throughout Mexico

MONTERREY — U.S. payment services company Western Union said Tuesday July 5 that it signed an agreement with the retail giant Wal-Mart de Mexico (Walmex) to offer money transfer services within more than one thousand stores of the largest supermarket chain in Mexico.

In a statement, Western Union said that the service will start in the third quarter and Walmex customers may handle transfers sent through Western Union, Vigo and Orlandi ValutaSM in 1,266 of its stores.

Remittances to Mexico, which grew between January and May at a 9.54 percent annual rate, are Mexico’s second largest source of foreign exchange and an important driver of retail sales.

Walmex already offers remittance services in their stores through agreements with other companies such as MoneyGram.

Source: lajornada.unam. mx via reuters.com