- OXXO has over 16,700 stores across Mexico
- Sigue Money Transfer signed a partnership with payments expert TransNetwork
- Sigue is reportedly eyeing other markets as well
Sigue Money Transfer is now available in thousands of OXXO stores, according to reports. The international money transfer brand is one of the leading remittance companies that processes fund transfers from the United States to Latin America and it is finally available in Mexico’s largest convenience store chain thanks to its partnership with payments specialist TransNetwork.
The Sigue-OXXO deal will open doors to the remittance company as the chain has over 16,700 stores around the country, based on recent data. According to Sigue executives, this is on top of Sigue’s 38,000 existing payment locations in Mexico. This will bring convenience to many Mexicans who receive funds from family members regularly.
“Our mission is to be wherever our customers and families live and work”, the Chief Executive Officer and Founder of the payments brand Guillermo de la Vita told the media on Tuesday. He added that their partnership with the convenience store reaffirms the brand’s commitment to “millions of Mexican families” who rely on their money transfer services. Sigue is currently one of the most popular remittance brands in the area. The company was founded in 1996 and has always aimed to provide excellent service. It currently serves millions of customers in more than a hundred countries around the world.
According to Sigue executives, the brand’s expansion plans involves entry into new markets but did not reveal which market they are eyeing. Sigue has continued to expand its global footprint but experts in the money transfer industry note that the company has not forgotten its core values. One of the most important is treating its customers with dignity and respect.
It is not just a happy occasion for Sigue, OXXO is also quite pleased about the development. OXXO’s finance director told reporters that its alliance with payments experts Sigue and TransNetwork gives its customers “the flexibility and access to the resources they need”.
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