Western Union Continues to Expand in Mexico
Western Union Money Transfer Services to Be Offered across Nearly 1,000 Bancoppel Locations
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- The Western Union Company (NYSE: WU ) , a leader in global payment services, and Bancoppel, a leading financial and retail services institution in Mexico, today announced a five-year agreement that paves the way for Bancoppel to offer Western Union® global money transferservices.
The Western Union services will be offered at nearly 1,000 Bancoppel locations across Mexico and will initially be available in stages across select locations, followed by a nationwide rollout.
“Mexico is a strategic market for Western Union,” said Odilon Almeida, president, Americas, Western Union. “We see a great opportunity to expand in Mexico through existing and new Agent relationships such as Bancoppel – while combining the strengths of our global brand and network to offer innovative financial solutions to consumers and businesses.”
“As part of Grupo Coppel, we share the commitment to provide exceptional customer service to the traditionally financial underserved population, understanding their needs and providing financial products tailored to their own lifestyles, such as credit and debit cards, checking accounts, personal loans, and investment instruments,” said Julio Carranza, chief executive officer of Bancoppel. “This approach is why our relationship with Western Union will help give our mutual customers more options, and the high quality service, that helps fulfill their financial services needs.”
Western Union has remained committed to the Mexico market, providing dependable financial services. Today, Western Union, Vigo and Orlandi Valuta services are offered in Mexico through a strategically combined network of Agent locations that include banks, national retail chains and independent locations. Western Union, in conjunction with its Orlandi Valuta and Vigo brands, connects consumers in Mexico to more than 510,000 Agent locations across 200 countries and territories.
About Western Union
The Western Union Company (NYSE: WU ) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of December 31, 2012, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 510,000 agent locations in 200 countries and territories. In 2012, The Western Union Company completed 231 million consumer-to-consumer transactions worldwide, moving $79 billion of principal between consumers, and 432 million business payments. For more information, visit www.westernunion.com.
About Bancoppel / Coppel
Bancoppel is the Banking subsidiary of Grupo Coppel. Since the decade of 1940’s Coppel has become one of Mexico’s largest and most renewed department store chain. Currently operates nearly 1,000 stores in different formats and has presence in more than 300 cities and all populations with more than 100,000 inhabitants. Coppel has a customer base of 22 million of which 9.7 million are credit active. For more information, visit http://www.bancoppel.com/.
Dan Diaz, +1 720-332-5564
KEYWORDS: United States Mexico North America Central America South America Colorado