- Western Union Company (NYSE:WU), says it has grown its reach in Mexico with the ability to send money from the United States directly into nearly all bank accounts in Mexico.
- Customers in the United States can now send money into bank accounts in Mexico via the Western Union mobile app/website and retail agent location channels/
- The company has also significantly increased the amount of Western Union Agent locations in Mexico to nearly 13,600 after adding 3,200 locations in 2015 across brands.
- In 2015, remittances to Mexico totaled $24.8B, according to Banco de Mexico, growing 4.75 percent over 2014. While U.S. senders account for more than 90 percent of the money moved into Mexico, Western Union transferred money to Mexico from more than 180 countries last year.
- There are more than 80M bank accounts in Mexico, according to the National Banking and Stock Commission.
- Source: Press Release