Grupo Elektra and Western Union Enter into New Money Transfer Agreement
22 2월 2012 - 8:00AM
Business Wire
Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA*; Latibex:
XEKT), Latin America’s leading financial services company and
specialty retailer, and The Western Union Company (NYSE:
WU), 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.
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.
Company Profile
Grupo Elektra (www.grupoelektra.com.mx) is Latin America's
leading financial services company focused on the mass market. The
Group operates over 2,600 points of sale in Mexico, Brazil,
Guatemala, Honduras, Peru, Panama, El Salvador and Argentina. Grupo
Elektra also sells and markets its consumer finance, banking and
financial products and services through Banco Azteca branches
located in Mexico, Brazil, Panama, Guatemala, Honduras, Peru and El
Salvador.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com),
a group of dynamic, fast-growing, and technologically advanced
companies focused on creating shareholder value, contributing to
build the middle class of the countries in which they operate and
improving society through excellence. Created by Mexican
entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo
Salinas operates as a management development and decision forum for
the top leaders of member companies. The companies include Azteca
(www.irtvazteca.com), Azteca America (www.aztecaamerica.com), Grupo
Elektra (www.grupoelektra.com.mx), Banco Azteca
(www.bancoazteca.com.mx), Afore Azteca (www.aforeazteca.com.mx),
Seguros Azteca (www.segurosazteca.com.mx) and Grupo Iusacell
(www.iusacell.com.mx). Each of the Grupo Salinas companies operates
independently, with its own management, board of directors and
shareholders. Grupo Salinas has no equity holdings. However, the
member companies share a common vision, values and strategies for
achieving rapid growth, superior results and world-class
performance.
Except for historical information, the matters discussed in this
press release are forward-looking statements and are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those projected. Other risks that may affect
Grupo Elektra and its subsidiaries are identified in documents sent
to securities authorities.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
December 31, 2011, the Western Union, Vigo and Orlandi Valuta
branded services were offered through a combined network of
approximately 485,000 agent locations in 200 countries and
territories. In 2011, The Western Union Company completed 226
million consumer-to-consumer transactions worldwide, moving $81
billion of principal between consumers, and 425 million business
payments. For more information, visit
www.westernunion.com.
Western Union (NYSE:WU)
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