US cross-border payment processor Western Union and Mexico’s Banco Ahorro Famsa have signed an agreement, pursuant to which the latter will offer money transfer services through its 300 locations in the country beginning in November this year.
As per the terms of the agreement, Banco Ahorro Famsa will also offer its consumers with Western’s Vigo and Orlandi Valuta services.
Banco Ahorro Famsa commercial director Enrique Canseco said, "Our company will now offer Western Union Money Transfers – providing consumers, who send money to Mexico, with a new practical payout option that brings families closer."
Western Union Mexico vice president and general manager Luis Felipe Rodríguez said expansion in Mexico through existing and new Agent relationships such as Banco Ahorro allows the firm to serve customers better and faster.
The firm through its branded services such as Western Union, Orlandi Valuta and Vigo offers money remittance in Mexico with the help of its network of over 510,000 Agent locations across 200 nations and territories.
Banco Ahorro Famsa, a member of Grupo Famsa, provides financial services including money, mortgage loans, credit cards and investments, among others in the country.