Wells Fargo & Co. has struck agreements to add 4,000 access points to its global remittance network in Mexico, nearly doubling its current site total in that country.
The company was scheduled to announce an agreement Thursday with Houston-based Transnetwork Corp., which bills itself as a "turnkey" remittance provider for money transfers to Mexico.
The additions give Wells the biggest remittance network of any company operating in Mexico, it said. Among the new sites are the stores of Soriana, one of the largest grocery and department store chains in the country, and Grupo Famsa, which sells durable goods and other items to what Wells bills as "Mexico's middle- and lower-middle-income segments."
Daniel Ayala, the executive vice president and head of Wells Fargo's global remittance service, said the retail sites would offer extended hours for transactions seven days a week.