Even in the age of Venmo and instant digital banking, Western Union has managed to maintain its foothold in retail stores across the U.S. and abroad. Now, thanks to a helping hand from Walmart's Central American operations, Western Union can depend on more business south of the border.
Tuesday (July 5) saw Western Union and Walmart de México y Centroamérica officially announce a partnership that will see the payment services company expand its operations into the 1,266 Walmart and subsidiary-branded store fronts spread across the country. Western Union will operate under its own brand, as well as Vigo and Orlandi Valuta — a configuration that Western Union President of the Americans and the European Union Odilon Almeida believes will be a instant hit with Mexican consumers.
"We are delighted to continue expanding our presence across the globe, in alliance with some of the largest — and most reputable — banks, postal services and retailers in the world, to bring our customers a trusted network of agents to enable money transfer services," Almeida said in a statement. "Our expertise in the money transfer industry, coupled with Walmart’s wide network presence in Mexico, will offer a powerful value proposition for our customers.”
Western Union expects to be fully operational across Walmart's Mexican network of stores by Q3 2016 at the latest, though that comes in addition to the almost 14,000 self-run payment services locations it has run in Mexico since the 1990s.