The new relationship builds on a five-year agreement, which will further strengthen Banorte’s remittance payment capabilities in the domestic market.
The money transfer services will be initially provided at select locations, while the company will launch the services across the country at a later stage.
Grupo Financiero Banorte CEO Alejandro Valenzuela said that the agreement will further boost its global payment services capabilities for its customers and their families residing abroad.
Western Union Americas president Odilon Almeida said the selection of Banorte will enhance its reach to offer reliable financial services to consumers across the country, while boosting its agent network in Mexico, and across the globe.
As a subsidiary of Grupo Financiero Banorte, the bank manages over 1,300 branches and more than 6,700 ATMs across Mexico and provides various kinds of financial services to 22 million customers.
WU, in collaboration with its Orlandi Valuta and Vigo brands, connects consumers in Mexico to over 510,000 Agent locations throughout 200 nations and regions.
