HOUSTON, 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.
Wal-Mart 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.
"Remittances are an important part of the economy of many families we serve in Mexico," said 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 Services
Based in Houston, BTS is an affiliate of BBVA USA, which is part of the BBVA Group (BBVA) (BBVA.MA), 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 Europe and 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 Centroamerica
Wal-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 Mexico and Central America. It operates in six countries: Costa Rica, El Salvador, Guatemala, Honduras, Mexico and 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).
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