ENGLEWOOD, Colo. & MEXICO CITY--(BUSINESS WIRE)--The Western Union Company (NYSE: WU), a leader in global payment services, today rolled out Western Union Money Transfer® services across OXXO, Mexico’s largest convenience store chain geographically, with an innovative self-service feature that allows customers to receive funds faster at check-out.
Customers visiting OXXO’s 14,000 locations can receive their funds by completing their payout information independently via one of three options – calling a national hotline in advance or using dedicated in-store phones and digital devices*. The self-service feature allows faster and efficient funds collection at check-out. OXXO’s convenience store chain collectively services 11 million customers daily.
By fully activating services at OXXO, Western Union’s retail Agent network has nearly doubled to more than 26,600 locations, from approximately 13,500 at close of 2015.
“We are putting customers’ evolving needs at the center of our innovation and upholding the trust and convenience they expect from our global trusted brand,” said Odilon Almeida, Western Union President, Americas and European Union.
"Our innovative self-service feature in Mexico in collaboration with OXXO is part of our strategy to digitalize our retail network. In the process, we have amplified our brand strength and access, making it even easier for customers across urban, rural and remote parts in Mexico. We continue to execute on our strategy to attract ‘Main Street’ and ‘High Street’ brands to serve customers,” added Almeida.
Asensio Carrión, Director of Financial Services of OXXO, said: “We are proud to expand the portfolio of financial products and services available to customers by offering Western Union services and being connected to a global network in more than 200 countries and territories. We are equally pleased to extend the convenience of receiving money transfers while customers shop for essentials, offering more than 2,600 products in each store.”
The cash payout limit is capped at 1,000 Mexican pesos (approximately $50 USD) per user, per day. Larger payouts are credited into debit cards of major banking providers, as well as OXXO’s Saldazo** debit card. OXXO operates from 8 am to 8 pm, seven days a week.
Mexico is the fourth largest recipient of remittances globally after India, China and the Philippines, according to the World Bank data, which reported that $25.7 billion were received in Mexico in 2015, an 8.7 percent increase versus 2014 ($23.64 billion).1
(*) In-store phones will be installed at approximately 1,200 stores and kiosks will be installed at approximately 600 stores.
(**) Saldazo is a debit card associated to Banamex savings accounts (Cuenta Transfer Banamex) and it is available for acquisition at all OXXO stores throughout the country. More information on contracts, commissions and requirements can be obtained at Banamex Branches or www.banamex.com or at www.saldazoOXXO.com.
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 June 30, 2016, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2015, The Western Union Company completed 262 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 508 million business payments. For more information, visit www.westernunion.com.
About FEMSA Comercio
FEMSA Comercio operates several retail chain stores in Mexico, Chile and Colombia, such as OXXO, YZA pharmacies, Moderna, Farmacon, Cruz Verde pharmacies and Maicao beauty stores. It also operates gas stations under the brand OXXO Gas, and the fast food restaurants Doña Tota. Through its different formats, FEMSA Comercio serves more than 11.1 million consumers every day.
1 Migration and Remittances Factbook 2016. Tercera Edición. Banco Mundial.