- OXXO has a remittance service in its more than 21,000 stores nationwide, with service hours from 6 am to 10 pm, 365 days a year.
- OXXO customers can withdraw amounts of up to 3,000 pesos in store, quickly, easily and safely.
- This year, the digital wallet Spin by OXXO made available to all customers the collection service for resource shipments from the United States.
Mexico City, Mexico. June 15, 2023. – To celebrate the International Day of Family Remittances, FEMSA recognizes the important contribution of migrant workers to their families and communities, therefore, through Spin by OXXO, it expands its presence in the financial services market and remittances, to offer innovative models that create economic and social value.
“Having the remittance reception service has allowed us to strengthen our value proposition and offer more and better options in services that meet the needs of our customers. We are proud that this service helps our contribution to generate a positive economic and social impact for the financial inclusion of the communities in which we have a presence,” said Santiago Rivera, Commercial Director of OXXO Services.
International remittances are an important part of migrant families and the Mexican economy. According to data from the National Population Council and the Bank of Mexico, only in 2022 our country received 58 thousand 497 million dollars in remittances with a growth of 13.4% compared to the previous year, breaking a record in the country’s history.
Since 2016, OXXO has offered this service thinking of all those people who work abroad and send part of their resources to their families still living in their countries of origin.
OXXO has a remittance service in its more than 21,000 stores nationwide, with extensive service hours -from 6 am to 10 pm, 365 days a year-, where they can withdraw amounts of up to 3,000 pesos in store, quickly, easily and safely.
In order to withdraw the money, the recipients of the OXXO remittance service must only provide the transfer number provided by the sender from abroad and an official identification.
Spin by OXXO has the mission of expediting the money of millions of people in Mexico, including those who receive money transfers from abroad. For this reason, this year it made the remittance collection service available to all its clients from the United States.
The service consists of the collection of resources from remittances through direct deposit into the holder’s Spin by OXXO account, without any commission, quickly and safely, 24 hours a day, 365 days a year. These funds can be used for all the services offered by Spin by OXXO, such as money transfers from Spin to Spin, SPEI transfers, payment of services and purchase of gift cards from the app; as well as card purchases, deposits and cash withdrawals at any OXXO store in the country, among others.
*For legal purposes, the authorization to organize and operate as an Electronic Payment Fund Institution was granted to Compropago S.A. de C.V., IFPE, a company that operates under the brand “Spin by OXXO”.
FEMSA is a leading company that creates economic and social value through companies and institutions and seeks to be the best employer and neighbor of the communities where it has a presence. It participates in retail trade through its Proximity Division, which includes OXXO, a chain of small-format stores, OXXO Gas, a chain of service stations, and Valora, our European retail unit that operates convenience and food service stores. In retail trade, FEMSA also participates through a Health Division, which includes pharmacies and related activities; and the Digital@FEMSA Division, which includes Spin by OXXO and OXXO Premia, as well as other loyalty initiatives and digital financial services. In the beverage industry, it participates by operating Coca-Cola FEMSA, the world’s largest bottler of Coca-Cola products by sales volume; and in the beer sector, as the second largest shareholder of Heineken, one of the world’s leading beer companies with a presence in more than 70 countries. FEMSA also participates in the logistics and distribution industry through FEMSA Strategic Business, which additionally provides refrigeration solutions at the point of sale and plastic solutions to its companies and external clients. Through its Business Units, it employs more than 350,000 employees in 18 countries. FEMSA is a member of the Dow Jones MILA Pacific Alliance Sustainability Index, the FTSE4Good Emerging Index and the S&P/BMV Total México ESG Index, among other indices that assess its sustainability performance.
About FEMSA’s Proximity Division
FEMSA’s Proximity Division generates economic and social value in the countries where it has a presence. It operates different small-format retail chains in Latin America and Europe, among which are the OXXO stores. It also operates service stations under the OXXO GAS brand in Mexico, and Valora, our European retail unit that operates convenience and food service stores. Through its business units, FEMSA’s Proximity Division serves more than 13 million consumers every day and employs more than 160,000 employees, promoting inclusion, diversity, and Sustainability practices in its teams to operate in harmony with the planet, community and value chain.
Digital@FEMSA is the technological innovation division that offers digital solutions to simplify the lives of our clients. It is made up of businesses that take advantage of technology to create practical and reliable tools, such as Spin by OXXO, as well as a diverse and multidisciplinary team focused on developing an innovative value proposition in this market. Backed by FEMSA’s more than 130 years of experience and commitment to excellence, this new division continues with the mission of creating economic and social value, now in the digital community.