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 transfer services.
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/.
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