UPPER SADDLE RIVER, N.J. - Western Union Financial Services Inc., a unit of New Valley Corp., launched a service that electronically delivers funds within minutes to almost 300 locations in Mexico. The service, called Dinero en Minutos, will provide money transfers within minutes from the United States to nearly 300 Elektra stores across Mexico. Elektra is Mexico's leading appliance and home electronics retailer.
Western Union said that Mexico is a $1 billion money transfer market. By mid-1994, Western Union plans to expand the network in Mexico to 500 locations.