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June 23, 2014 /PRNewswire/ -- Bancomer Transfer Services Inc. (BTS), part of BBVA's U.S. operations, announced today it signed an agreement with Wal-Mart de
Mexico y Centroamerica that will enable BTS customers to collect remittances directly at the stores of one of
Mexico's largest retailers.
The move will expand the reach of BTS's money transfer system, which already has 12,000 payment locations in
Mexico, to Wal-Mart's 1,100 stores in the country.
For recipients, it means they will be able to collect money sent from the U.S. at even more locations and more conveniently since Wal-Mart stores in
Mexico are open year-round and have extended business hours.
"This partnership is obviously a good business decision," said
Manolo Sánchez, BBVA U.S. country manager and chairman and CEO of BBVA Compass. "But more than that, it speaks to our abiding goal of building a better future for every person in every community where you see our name. We want to make these kinds of transactions safe and easy so people can then go about the business of living their lives."
Remittances constitute a major bond between
Mexico and the U.S.: In
April 2014, remittances to
Mexico grew 2.1 percent year-over-year, according to
Mexico's Central Bank.
Mexico y Centroamerica, a subsidiary of Wal-Mart Stores Inc., said that the deal makes the retailer even more of a convenient destination for its customers.
"Remittances are an important part of the economy of many families we serve in
Antonio Ocaranza, Corporate Communications director of Wal-Mart de
Mexico y Centroamerica. "This partnership with Bancomer Transfer Services will give our customers an extraordinary way to receive family remittances from their relatives in
the United States in an easy, fast, safe manner — and at convenient hours."
About Bancomer Transfer ServicesBased in
Houston, BTS is an affiliate of BBVA
USA, which is part of the BBVA Group (NYSE: BBVA) (MAD: BBVA), a multinational financial service group that operates in more than 30 countries. BTS has provided money transfer services to
Mexico since 1995 and expanded to other key Latin American markets in 2002. Today, BTS offers consumer money transfer services to 27 countries with over 40,000 payment locations. With this strong foundation, BTS continues expanding the service in
Asia. The strength of the BBVA global brand, coupled with technology and compliance capabilities, makes BTS an attractive proposition for financial institutions and customers around the world that require money transfer services.
About Wal-Mart de Mexico y CentroamericaWal-Mart de México y Centroamérica is a company of the retail sector whose vision is contributing towards improving the quality of life for families in
Central America. It operates in six countries:
Nicaragua. It has a wide array of business formats including discount self-service stores (Bodega Aurrera Express, Despensa Familiar and Palí), supermarkets (Superama, Supertienda Paiz,
La Despensa de
Don Juan, La Unión and Masxmenos), bodegas (Bodega Aurrera, Mi Bodega Aurrera and Maxi Palí y
Maxi Despensa), hypermarts (Wal-Mart), membership warehouse clubs (Sam's Club and ClubCo) and apparel stores (Suburbia) that amount to 2,873 locations as of
June 4, 2014. In 2013, Wal-Mart de México y Centroamérica reported sales over 420 billion Mexican pesos.
http://www.walmartmexicoycam.com Facebook: Walmart de México y Centroamérica Twitter (@WalmartMXyCAM).