Western Union Continues to Expand in Mexico

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/.

WU-G

WU-F



Western Union
Dan Diaz, +1 720-332-5564
daniel.diaz@westernunion.com

KEYWORDS:   United States  Mexico  North America  Central America  South America  Colorado

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2367676, ~/Articles/ArticleHandler.aspx, 10/1/2014 9:08:09 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASD 4,422.09 -71.31 -1.59%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/1/2014 4:00 PM
WU $15.93 Down -0.11 -0.69%
Western Union CAPS Rating: ****