In 1993, Grupo Elektra and Western Union signed an agreement through which Grupo Elektra was enabled to payout international money transfers in Mexico. The agreement was renewed in 2006, adding under a separate agreement Western Union branded payments services Vigo and Orlandi Valuta.
Grupo Elektra has two main businesses: the financial business and the commercial business. The company targets in the Latin America’s middle class, providing products in electronics, house hold appliances, furniture, motorcycles, tires, cell phones, computers, electronic money transfers and other.
In recent news, Taiwanese commercial bank King’s Town Bank has introduced the Western Union money transfer online service, which is set to allow registered online banking clients to make Western Union transactions internationally.
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