Walmart is to start providing MoneyGram receive services at its stores in Mexico until 2018.

MoneyGram claimed that this contract will ensure its customers can access quick, reliable and convenient money transfer services at Walmart stores.

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Since the first agreement signed in 2000, Walmart Mexico has been offering MoneyGram receive services in its five different branded stores.

"Together, we will continue to make investments in marketing and technology to provide customers the best experience."

MoneyGram’s Americas and Europe executive vice-president Pete Ohser said: "The US to Mexico remittance corridor is the largest single country to single country corridor in the world.

"The signing of this new agreement with Walmart Mexico and the recent signing of a new contract with Walmart in the US, demonstrates the companies’ commitment to each other, as well as a shared commitment to our customers on both sides of the border.

"Together, we will continue to make investments in marketing and technology to provide customers the best experience when receiving money from friends and family around the globe."

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Consumers can receive payouts at mi Bodega Aurrera, Walmart Super Centers, Bodega Aurrera, Superama, and Suburbia outlets.

Remittances into Mexico have crossed oil as the country’s primary source of foreign income, according to the World Bank’s estimates. More than $25bn was circulated in the country last year.

MoneyGram is an international provider of money transfer and payment services, offering bill payment services, issue money orders and process official checks in selected markets.