Western Union expands payments partnership with Mercado Pago

By Gloria Methri

Western Union and Mercado Pago have extended their partnership, enabling its customers in the United States and Canada to send money from Western Union’s mobile app, its website, or its retail locations to Mercado Pago wallet accounts in Mexico.

The new capability extends the geographic reach and level of choice for customers and provides speed and convenience. Once sent, the money is credited to Mercado Pago accounts without leaving the comforts of home.

“The growth of our relationship confirms that we are improving a vital transaction for millions of families in Mexico. Our goal is to become the best banking app to receive remittances in Mexico and now with this development, we can also become the simplest option for those who send remittances from the United States and Canada,” said Pedro Rivas, General Manager, Mercado Pago Mexico.

The agreement with Mercado Pago reinforces Western Union’s role in helping Mexicans conveniently send money worldwide over digital and retail channels.

“Western Union and Mercado Pago collectively share a mission to increase customers’ access to digital and traditional financial services,” said Claudia Reyes, Vice President and General Manager, Western Union Mexico. “As we build on growth and innovation across Mexico and its key corridors, we are excited to continue our work with Mercado Pago while providing choice across digital and physical channels for our customers.”

Mercado Pago wallet account holders in Mexico can withdraw cash for free with a debit card in thousands of ATMs and stores, use the funds to pay for services directly through the Mercado Pago application or transfer funds to others, once customers send money using the Western Union app.