Western Union Financial Services Inc., a subsidiary of First Data Corp., is beefing up its presence in Mexico by signing a 10-year agreement with Elektra, one of Mexico's largest retailers.

In addition, the money transfer company purchased Elektra's interest in two companies in which both Western Union and Elektra were part owners.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.