Western Union and Tiendas Neto expand cross-border money transfer channels for Mexican consumers

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MEXICO–(BUSINESS WIRE)–Western Union and Tiendas Neto today announced an agreement to offer cross-border money transfer services at more than 1,300 Tiendas Neto supermarkets across Mexico.

The agreement with Tiendas Neto further strengthens Western Union’s ability to help millions of Mexican consumers easily send money around the world. Customers can choose to deposit their funds into billions of bank accounts, millions of mobile wallets, or Western Union’s extensive global point-of-sale network.

“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, Western Union Mexico and Central America Manager. “Teaming up with Tiendas Neto will help us continue to expand our operations across Mexico, while adding more convenience for our customers by giving them the ability to send or receive funds closer to home or from home. .

Luis Gerardo Ruíz Ojeda, Managing Director of Tiendas Neto, said, “We are extremely excited to add Western Union’s global financial services platform to our portfolio, providing our customers with a convenient and reliable channel to send funds. . By 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.

Remittances continue to be a key driver of economic growth across Mexico and an essential element in supporting the livelihoods of Mexican families. According to Banxico, in 2021 the country received $51,593.9 billion, which is 27.1% more than in 2020. Likewise, remittances already represent 4% of the country’s GDP, which has served a lifeline for families who depend on this income.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its world-class global financial network connects more than 200 countries and territories and more than 130 currencies. We connect consumers, businesses, financial institutions and governments through one of the most extensive networks in the world, accessing billions of bank accounts, millions of digital wallets and cards and a vast global network of points of sale. Western Union connects the world to bring unlimited possibilities at your fingertips. For more information, visit www.westernunion.com.

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