Investment Properties Mexico
Toll Free USA/Canada (866) 751-7955
 

Read. Learn. Invest. Grow

Wal-Mart To Relaunch Mexico Finance Services

12 September, 2012

International retail player,Wal-Mart,plans to relaunch Mexico finance through banking provided in its
outlets in Mexico,using thousands of store employees to provide
services.

Wal-Mart Mexico hopes to make gains in a sector largely run by
America's Citigroup and Spain's BBVA.

Wal-Mart is by far the largest
retailer in Mexico and plans to offer Mexico finance services,including credit
cards and savings accounts,to their millions of customers. Almost 70% don't
currently use a bank.

Chief Executive of Wal-Mart de Mexico,Eduardo Solorzano,said,
"By year-end,we'll offer our consumers almost 20,000 cashiers for the bank.
That's all the cashiers we have," reported Reuters news agency.

The
brands of Wal-Mart in Mexico include Wal-Mart Supercenter,Sam's Club and Vips.
They are controlled by Wal-Mart Stores Inc in the US,a company listed on the
New York Stock Exchange.

As of May 31,2009 Wal-Mart in Mexico operated
1,239 units throughout 231 cities nationwide,including self-service stores,
membership wholesale clubs,apparel stores,and restaurants. Its stock has also
been listed in the Mexican Stock Exchange since 1977.

Find out more about Mexico finance.

Like this story? Like Investment Properties Mexico on Facebook.

Comments