Western Union inks deal with Brazil's Banco Bradesco

The Western Union Company and Banco Bradesco, S.A., one of the largest Brazilian banks, announced an agreement to offer the Western Union global money transfer service at most of Banco Bradesco's locations in Brazil.

The Western Union global money transfer service, a new service offering for Banco Bradesco account holders and walk-in consumers will be available soon. Consumers will be able to send and receive consumer-to-consumer international money transfers in person at the majority of Bradesco's locations.

The signing of Banco Bradesco is part of Western Union's "go-to-market" strategy in Brazil. As Western Union continues the expansion of its service offerings, in an effort to strongly position money transfers to consumers in Brazil, it seeks to tap into strategic banking channels.

The Western Union Money Transfer service has been available in Brazil since 1997, providing international money transfer services, through its Agent network that currently includes more than 5,800 Agent locations.

IAMTN: Bradesco is one of the biggest names in Brazilian banking and this signing strengthens WU’s position. It will be interesting to see how much money is sent out of the country compared to what is received.