Through this deal, Wells Fargo will extend its consumer remittance payout network distribution to Banco Azteca and Elektra’s 2,461 locations in Mexico, Guatemala, Honduras and Peru.
Wells Fargo said its ExpressSend customers now have over 40,200 remittance payout locations to send money to 15 countries in Latin America and Asia.
With this expansion in Mexico alone, Wells Fargo is increasing its distribution network to more than 12,400 payout locations.
Wells Fargo executive vice president and head of Global Remittance Services Daniel Ayala said that by joining forces with Banco Azteca and Elektra, the company is offering its customers one of the largest number of payout locations in Mexico.
