MEXICO CITY, June 23, 2014 /PRNewswire/ -- Walmart de Mexico y Centroamerica and Bancomer Transfer Services Inc. (BTS), part of BBVA's U.S. operations, have teamed up to provide remittances collection services in more than 1,100 Walmart de Mexico y Centroamerica's stores in Mexico. The move will expand the reach of BTS's money transfer system to more than 13,000 payment locations in Mexico.
For recipients, it means they will be able to collect money sent from the U.S. at even more locations and more conveniently since Walmart stores in Mexico, under the brands Bodega Aurrera, Walmart, Superama and Suburbia, are open year-round and have extended business hours in more than 468 locations throughout the country.
"Remittances are an important part of the economy of many families we serve in Mexico," said Antonio Ocaranza, Corporate Communications director of Walmart 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."
"This partnership is obviously a good business decision," said Manolo Sanchez, 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."Since Walmart de Mexico and Centroamerica and BTS signed an agreement to provide remittance services in October 28, 2013, service has grown from 672 stores to 1,175 stores in June. 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. Walmart de 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.