MEXICO's Soriana to pay remittances from Western Union Units

Saturday May 26th, 2007 / 0h00
MEXICO CITY -(Dow Jones)- U.S. money transfer companies Orlandi Valuta and Vigo Remittance Corp., both subsidiaries of Western Union Company (WU), said Friday they're now offering money transfers through stores of Mexican retailer Organizacion Soriana (SORIANA.MX). In a press release, Orlandi Valuta and Vigo said that under the multi-year agreement, recipients will be able to pick up transfers from the U.S. at 215 Soriana and Mercado Soriana stores in Mexico. The money will be received on "loyalty cards" issued by Soriana, which can be used for purchases at the stores or exchanged for cash, they said. [Read more]