Western Union, based in Denver, has teamed up with Tiendas Neto to offer international money transfer services through more than 1,300 of its supermarket locations across Mexico, according to a press release.
"We are extremely excited to add Western Union's industry-leading global financial services platform to our portfolio, providing a convenient and reliable channel for our customers to send remittances,” Luis Gerardo Ruíz Ojeda, general manager of Tiendas Neto, said in the release. “In doing so, our consumers can now send money to friends and family from any of our locations using one of the most trusted brands in the world.”
Under the terms of the deal, Tiendas Neto will be tasked with distributing the international monetary transactions to millions of customers across the country, a press release reveals.
“Customers may choose for their funds to be paid out into billions of bank accounts, millions of mobile wallets or across Western Union’s substantial global network of retail locations,” the press release explains.
“Western Union’s goal of enabling millions of connections between family and loved ones to send or receive money globally and locally continues to grow, while evolving our offerings to include expanded digital services and a streamlined retail customer experience,” said Pablo Porro, head of Western Union Mexico and Central America. “Teaming with Tiendas Neto will help us continue to expand our operations across Mexico, while adding more convenience for our customers by giving them the opportunity to send or receive remittances closer to or from their homes.”
Mexican-based remittance services contribute over $51 billion to the Mexican economy, making a significant part of the sum that supports Mexican families’ livelihoods.