The Western Union Company (NYSE:WU), a leader in the money transfer segment of global payments, and Banco Bradesco, S.A., one of the largest Brazilian banks, announced today an agreement to offer the Western Union global money transfer service at most of Banco Bradesco's locations in Brazil.
The Western Union global money transfer service, a new service offering for Banco Bradesco account holders and walk-in consumers will be available soon. Consumers will be able to send and receive consumer-to-consumer international money transfers in person at the majority of Bradesco's locations.
The signing of Banco Bradesco is part of Western Union's "go-to-market" strategy in Brazil. As Western Union continues the expansion of its service offerings, in an effort to strongly position money transfers to consumers in Brazil, it seeks to tap into strategic banking channels.
"Our expanding global money movement network provides consumers more ways to move money quickly to more destinations worldwide," said Stewart A. Stockdale President, The Americas and Executive Vice President Global Cards and Global Key Accounts. "Banco Bradesco is a leading-edge financial services institution. Our agreement with Banco Bradesco is part of Western Union's new focus on identifying and driving the development of best-in-class services to expand the company's business to new consumer segments in Brazil."
The Western Union Money Transfer service has been available in Brazil since 1997, providing international money transfer services, through its Agent network that currently includes more than 5,800 Agent locations.