Western Union and Tiendas Neto Extend Cross-Border Remittance Channels for Mexico Consumers

• Customers can now send and receive remittances at more than 1,300 Tiendas Neto locations throughout Mexico
• Agreement enhances Western Union’s financial inclusion efforts across the furthest reaches of the country

MEXICO CITY--(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 supermarket locations across Mexico.

The agreement with Tiendas Neto further strengthens Western Union’s ability to help millions of consumers in Mexico conveniently send money worldwide. Customers may choose for their funds to be paid out into billions of bank accounts, millions of mobile wallets, or across Western Union’s substantial global network of retail locations.

“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, Head of Western Union Mexico and Central America. “Teaming with Tiendas Neto will help us continue to expand our operations across Mexico, while adding more convenience for our customers by giving them the opportunity to send or receive remittances closer to or from their homes.”

Luis Gerardo Ruíz Ojeda, General Manager of Tiendas Neto, said, "We are extremely 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.”

Remittances continue to serve as a key driver to economic growth across Mexico and a critical piece to support livelihoods for Mexican families. According to Banxico, during 2021, the country received $51,593.9 billion 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.

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 leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.