The FINANCIAL -- Grupo Elektra, Latin America’s, one of the leading financial services company and specialty retailer, and The Western Union Company, a leader in global payments, announced today the companies have entered into a new long term money transfer agreement in Mexico with Western Union under a non-exclusive basis.

According to The Western Union Company, with more than 1,800 points of sale in Mexico, cutting edge technology and the trust of millions of Mexican families in its brands through more than six decades of company operations, Grupo Elektra has proven experience in the money transfer and payments industry, together with Western Union’s more than 100 years of presence in Mexico, providing dependable financial services.

Western Union, together with Vigo and Orlandi Valuta, has more than 50,000 points of sale in the US. Western Union is the leading provider of money transfers worldwide with 160 years of experience, more than 485,000 Agent locations in more than 200 countries and territories.

In 1993, Grupo Elektra and Western Union signed an agreement through which Grupo Elektra was enabled to payout international money transfers in Mexico; the agreement was renewed in 2006, adding under a separate agreement Western Union branded payments services Vigo and Orlandi Valuta.

The new agreements consolidate Grupo Elektra’s solid positioning as a major paying agent in Mexico, and further increases and diversifies the company’s revenues and profitability. With secure and fast money transfer operations, the agreements reaffirm Grupo Elektra and Western Union’s solid commitment to serve millions of consumers throughout Mexico.

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