- Western Union ( NYSE: WU ) is set to launch in Latin America with the acquisition of Brazil-based digital wallet Te Enviei.
- The company plans to enable its Brazilian customers to store funds, send money overseas and domestically and pay their bills.
- "Brazil is a strategically important market where we already hold a banking license, and it is a highly digitized banking market," Ricardo Amaral, president of Western Union Brazil said.
- Shares were trading +1.21% pre-market.
- Source: Press Release
(Editor's note: This article has been updated to clarify that the Te Enviei acquisition represents WU's entrance into Latin American digital banking rather than into Latin America in general.)
For further details see:
Western Union to enter Latin American digital banking by acquiring Brazil-based Te Enviei