OXXO and Western Union Strengthen Cross-Border Remittance Services in Mexico
May 08 2024 - 8:30AM
Business Wire
- Remittance services offered in more than 21 thousand OXXO
stores nationwide, with business hours from 6 am to 10 pm, 365 days
a year.
- Consumers can collect amounts of up to 4 thousand pesos in all
stores in a fast, simple, and secure way.
- Since 2016, OXXO and Western Union have together offered
inbound remittance services, with the aim of simplifying their
customers’ lives.
In an ongoing effort to enhance its customer experience and
expand its financial services offering, OXXO and Western Union
today announced a strengthening of its cross-border remittance
services in Mexico. Together, OXXO and Western Union will enable a
communication strategy with select concept stores in Oaxaca with
Western Union services.
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the full release here:
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An OXXO store with Western Union services
in Oaxaca (Photo: Business Wire)
Claudia Reyes Armebianchi, Vice President and Head of Western
Union Mexico and Central America, said: "At Western Union, in
addition to offering secure ecosystems to receive money with 24/7
availability, we want people to easily and quickly identify the
different collection points we have, and this branding project in
alliance with a recognized partner such as OXXO is the perfect
opportunity to achieve this. We will continue to work hand in hand
to offer the best services for all our customers."
As a result of almost eight years of collaboration, OXXO and
Western Union have consolidated a close business relationship that
allows them to offer a quality remittance service with easy and
secure cash withdrawals. This type of action between companies with
the same values allows them to be closer to their customers, in
addition to supporting financial inclusion in different
communities.
With more than 21 thousand stores nationwide, extensive business
hours from 6 am to 10 pm, 365 days a year, and commercial partners
such as Western Union, OXXO allows its clients to collect up to 4
thousand pesos in a quick, simple, safe, and convenient way at all
stores nationwide. To withdraw the money, beneficiaries of the OXXO
remittance service must only provide the transfer number shared by
the sender from abroad and a valid official identification (for
example, voter registration card, passport, and consular card).
From its stores, OXXO seeks to provide everyday solutions and
contribute to the economic well-being of its customers. With
implementations like this, the stores will not only be spaces for
shopping but also places of interaction and connection for the
community. In addition, OXXO reaffirms its commitment to its
consumers, understanding their needs and offering a wide range of
products and services that make their daily lives easier.
Monica De Martino, Cash Management Transformation Leader at OXXO
Mexico, said: "We are currently undergoing a technological
transformation process to strengthen our capabilities. We are proud
to know that, through this service that operates in partnership
with Western Union, we contribute to generate a positive economic
and social impact that promotes financial inclusion in the
communities where we operate.”
International remittances are a fundamental pillar of the
Mexican economy, both at the family and national level. In 2023
alone, Mexico reached a historic record by receiving 63.313 billion
dollars in remittances, according to data from the Bank of Mexico
(BANXICO)1, which represents a 7.6% growth over the previous
year.
For more information, visit OXXO and Western Union.
About FEMSA
FEMSA is a company that creates economic and social value
through companies and institutions and strives to be the best
employer and neighbor to the communities in which it operates.
Across its business units, FEMSA has more than 350,000 employees in
18 countries. FEMSA is a member of the Dow Jones Sustainability
MILA Pacific Alliance, the FTSE4Good Emerging Index and the Mexican
Stock Exchange Sustainability Index: S&P/BMV Total México ESG,
among other indexes that evaluate its sustainability
performance.
About Proximity Division
FEMSA´s Proximity Division creates economic and social value in
the countries where it has presence. It operates different
small-format store chains in LATAM and Europe, among which there
are OXXO proximity stores. It also operates service stations under
the OXXO GAS brand in Mexico and Valora, our European retail unit
with convenience store and food service operations. Through its
business units, FEMSA´s Proximity Division serves more than 13
million consumers every day, and has more than 160,000 employees,
promoting inclusion, diversity and sustainability practices in its
teams to operate in harmony with the environment, community and
value chain.
About Western Union
The Western Union Company (NYSE: WU) is committed to helping
people worldwide who aspire to build financial futures for
themselves, their loved ones, and their communities. Our leading
cross-border, cross-currency money movement, payments, and digital
financial services empower consumers, businesses, financial
institutions, and governments—across more than 200 countries and
territories and nearly 130 currencies—to connect with billions of
bank accounts, millions of digital wallets and cards, and a global
footprint of hundreds of thousands of retail locations. We aim to
offer accessible financial services that help people and
communities prosper. For more information, visit
www.westernunion.com
1
https://www.banxico.org.mx/publicaciones-y-prensa/remesas/%7BFE4559B7-66D0-0A28-8175-D2A7E24AA1E5%7D.pdf
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version on businesswire.com: https://www.businesswire.com/news/home/20240508824350/en/
Press Contact:
Western Union:
- Brad S. Jones: Bradley.Jones@wu.com
- Adriana Tapia: adriana.tapia@fleishman.com
- Andrea Avendaño: andrea.avendano@fleishman.com
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