- The leading cross-border payments brand just launched its mobile app in Mexico
- Mexicans and expats living in the country can now send money to loved ones around the world
- The app is available on Android and iOS
Western Union announced on Wednesday that customers in Mexico can now “send money” any time of the day to anywhere in the world. The cross-border payments and cross-currency exchange giant launched its mobile app in Mexico this week and it’s now available on iOS and Android. Digital international money transfers through the app will allow Western Union customers to send funds to over 200 countries and territories, according to Business Wire. Western Union is one of the most trusted fund transfer platforms in the world and processes around 32 transactions per second on average. Based on current data, the company moves an estimated $300 billion per annum across a range of currencies.
Western Union Digital General Manager Khalid Fellahi said: “Mexico now has the best of our rare combination of physical and digital capabilities.” Fellahi also noted that Mexicans can send remittances at over 33,000 retail locations in the country. Mexico is currently one of the largest remittance recipients in the world. World Bank data from 2017 shows that a whopping $30.6 billion in remittances was received in Mexico that year. While remittances are crucial for the country’s growth, Mexico’s economy is now more globally connected hence the need for easier access to payment solutions. Based on numbers from Mexico’s Central Bank, Mexicans sent a total of $806 million abroad in 2017 alone and said funds went to the United States, Colombia, Ecuador, Canada, and Argentina.
With the mobile app, WU customers in Mexico can send as much as $2,999.99 to loved ones abroad. According to the company, the service charges a fixed rate of $5. WU currently offers digital money transfer services in 45 countries. Find out more about international money transfer services here.
