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DolEx Dollar Express, Inc. Enters into Strategic Agreement with Grupo Elektra, S.AB de C.V to Offer Money Transfers in Mexico

Atlanta, GA.  March 23, 2012 - DolEx Dollar Express, Inc., a leader in U.S. money transfers to Mexico / Latin-America and Grupo Elektra, S.AB. de C.V. (BMV: ELEKTRA*; Latibex: XEKT) Latin America’s leading financial services company and specialty retailer announced their agreement to add 1, 800+ Grupo Elektra payout locations in Mexico to the DolEx extensive payment network. 

DolEx customers in the US are now able to send their money transfers to their family and friends for pay out in Mexico through DolEx, Quisqueyana and Europhil from Spain, to any one of the Grupo Elektra and its affiliated locations across Mexico.  Most Grupo Elektra locations are open from 9am to 9pm 365 days per year and are conveniently located in most urban and many rural locations throughout the country. “We have enjoyed a successful and long term business relationship with Grupo Elektra; we look forward to offering this new convenient payment channel to our customers effective immediately.” said Mario Trujillo, President / CEO, DolEx Dollar Express, Inc.

This addition increases the DolEx payment network within Mexico to over 15,000 payment points. DolEx continues to grow and successfully offer money transfer services through Grupo Elektra in Guatemala, Honduras, El Salvador, Peru and Panama, a relationship they have enjoyed for years.

About DolEx Dollar Express, Inc.

DolEx Dollar Express, Inc.  is the US subsidiary of Money Transfer Acquisition, Inc., a Holding Company formed in 2010 by a management team led by seasoned entrepreneur, Mario Trujillo, in partnership with Private Equity firms, led by Palladium Equity Partners, LLC, to acquire DolEx, Europhil and Remesas Quisqueyana, with the intent to build another fast growing, successful financial services company in the US and Europe. DolEx has successfully operated over 15 years in the International Money Transfer industry. As one of the leaders in international family remittances, DolEx has the largest company owned store network targeting the growing Hispanic market in the US and offers money transfers and other financial & communication products and services across its network of more than 550 proprietary retail stores and over 1,200 retail agent partners.  Money transfers and other ancillary services are offered via the company’s core brand, DolEx, and its affiliated brands of Quisqueyana, and Europhil in Spain.  For further information about the companies, please visit www.dolex.com.

About Grupo Elektra

Grupo Elektra (www.grupoelektra.com.mx) is Latin America's leading financial services company and specialty retailer focused on the bottom of the socieconomic pyramid. The Group operates over 2,800 points of sale in Mexico, Brazil, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina.  Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through Banco Azteca branches located in Mexico, Brazil, Panama, Guatemala, Honduras, Peru and El Salvador.

DolEx Dollar Express, Inc. BBB Business ReviewDolEx Dollar Express, Inc. Money Services Business Association