Photo: MARVIN RECINOS/Getty Images
Western Union and Tiendas Neto announced an agreement to offer cross-border money transfer services in more than 1,300 Tiendas Neto supermarkets throughout Mexico.
Through a statement, the company stated that the agreement with Tiendas Neto strengthens Western Union’s ability to help millions of consumers in Mexico conveniently send money around the world. Customers can choose to have their funds paid out into billions of bank accounts, millions of mobile wallets, or Western Union’s leading global network of retail stores.
“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 simplified retail customer experience,” said Pablo Porro, director of Western Union Mexico and Central America. “Teaming up with Tiendas Neto will help us continue to expand our operations throughout Mexico, while adding more convenience for our customers by giving them the opportunity to send or receive remittances closer to or from their homes.”
Remittances continue to be a key engine for economic growth throughout Mexico and a fundamental piece to support the livelihoods of Mexican families. According to Banxico, during 2021 the country received $51,593.9 million dollars, 27.1% more than in 2020. Likewise, remittances already represent four percent of the country’s GDP, which has served as a lifeline for families that depend on this income.
Luis Gerardo Ruíz Ojeda, General Manager of Tiendas Neto, commented: “We are very 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. 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.”
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