Banorte’s UniTeller banking network paves
the way for Western Union direct transfers to more than 60 million
individual bank accounts1
The Western Union Company (NYSE: WU), a leader in global payment
services, today announced it will launch international direct to
bank money transfers to Mexico from the United States via the Grupo
Financiero Banorte’s UniTeller network.
An agreement recently signed between Western Union and
UniTeller, will allow Western Union customers in the US to send
cash directly into qualifying bank accounts – totaling more than 60
million individual bank accounts1. The UniTeller network currently
covers top banks in Mexico.
Planned for launch in the first quarter of 2015, customers will
be able to send international money transfers direct-to-bank from
participating retail Agent locations, www.westernunion.com and
directly from Western Union smart phone mobile applications from
the US.
Ricardo Velazquez, Head of International Banking, Trade
Finance and Financial Institutions of Grupo Financiero Banorte,
said: “UniTeller and Banorte are leaders in Mexico in the offering
of financial services to the beneficiaries receiving money from
their relatives abroad, continuously seeking for new ways to
process international transfers. With this agreement, beneficiaries
of remittances in Mexico will find it very convenient to open an
account at our bank and directly receive the funds through Western
Union with the benefit of value added banking services.”
“This agreement is a result of the competitiveness of our
Remittance Platform and will enhance the international payment
services for our customers in Mexico. As a leader of remittance
processing services, UniTeller continues to support the end to end
services for our customers in Mexico and abroad,” added Alberto
Guerra, CEO of UniTeller Financial Services at Grupo Financiero
Banorte.
Odilon Almeida, President Americas and European Union of
Western Union, said: “Thanks to this international
collaboration, Western Union customers in the United States can
send money directly into Banorte accounts and soon to other Mexican
banks giving customers new choice based on their use, need and
convenience.
“We are excited to offer our customers in Mexico a new way to
conveniently receive money. Although receivers in Mexico continue
to have a strong preference for cash and our retail growth has been
solid, we believe the direct to bank services will bring in new
types of consumers who prefer to receive funds in accounts.
“Expanding into the banking channels of Mexico in collaboration
with UniTeller is a significant development; we are proud to uphold
our promise to continually enhance convenience and choice for our
customers,” said Almeida.
Western Union’s direct-to-bank product cements the company’s
advancement into the bank remittance segment. More than $528
billion was moved across the world in 2013 in remittances according
to the World Bank2. Western Union offers direct-to-bank services in
50 countries including seven of the world’s top 10 remittance
receiving developing countries2—India, China, Philippines, Egypt,
Pakistan, Bangladesh, Vietnam and soon to be Mexico.
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
September 30, 2014, the Western Union, Vigo and Orlandi Valuta
branded services were offered through a combined network of over
500,000 agent locations in 200 countries and territories and over
100,000 ATMs and kiosks. In 2013, The Western Union Company
completed 242 million consumer-to-consumer transactions worldwide,
moving $82 billion of principal between consumers, and 459 million
business payments. For more information, visit
www.westernunion.com.
About UniTeller
UniTeller is an International Money Payments Processor based in
the United States and one of the largest players in Money Transfers
to Mexico, Latin America and Asia. Uniteller is a whole subsidiary
of Grupo Financiero Banorte, one of the largest financial groups in
Mexico and Latin America.
About Grupo Financiero Banorte
Grupo Financiero Banorte (GFNorte ) is one of the leading
Financial institutions in Mexico. After merge IXE Grupo Financiero,
formed the 3rd -largest financial group, and the largest,
controlled by Mexican shareholders, with a current network of 1,267
branches, over 7,000 ATMs, over 4,900 banking correspondents and
more than 63,000 POS terminals.
GFNorte offers products and brokerage services, credit to
businesses and families, estate consulting, investment companies,
leasing and factoring, warehousing, insurance, pensions and
retirement savings.
It has the main Administrator Retirement Funds in Mexico, Afore
XXI Banorte. Grupo Financiero Banorte has presence in southern
Texas through Inter National Bank, as well as New Jersey and
California through money transfer companies UniTeller and Motran,
and New York, through Banorte Securities International.
It is one of the banks with better asset quality indicators of
the Mexican financial system and has high levels of capitalization
and liquidity.
1 Source: Mexican National Banking and Securities Commission
(CNBV)2 Source: World Development Indicators and World Bank
Development Prospects Group (Top 10 Recipient of Remittances Rank -
2013e)
WU-G
Western UnionAmericas and European Union:Pia De
Lima, +1-954-260-5732Pia.DeLima@westernunion.comorUS:Sarah
Meske,
+1-720-332-2796sarah.meske@westernunion.comorMEXICO:Paula
Barifouse,
+1-954-378-4175paula.barifouse@westernunion.comorUniTeller /
Grupo Financiero BanorteMEXICO:Ayax Carranza, +52 55
16702922ayax.carranza.segura@banorte.com
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