MoneyGram International and Affinity Global Services Launch Mobile Money Transfer Service
MINNEAPOLIS & DALLAS--(BUSINESS WIRE)--Aug. 3, 2009--
MoneyGram International (NYSE: MGI), a leading provider of global
payment services, and Affinity Global Services, a leading mobile
financial services company, today announced an agreement that will
enable mobile money transfer receives in important markets around the
globe, bringing greater convenience and extending the benefits of
MoneyGram services to a new category of consumers.
According to the World Bank, more than 200 million people live outside
their home country. Mobile networks, which are now globally available,
help immigrants stay connected and mobile money transfer applications
will enable these and other subscribers better manage their finances.
The MoneyGram and Affinity Global Services alliance will allow consumers
to use MoneyGram’s agent network of over 180,000 locations around the
world to send money to an account associated with a mobile device.
“In developing economies, there are more people with mobile phones than
traditional bank accounts. We see a tremendous opportunity to better
serve these consumers by delivering MoneyGram remittances in compelling
new formats such as mobile technology,” said Anthony Ryan, MoneyGram
president and chief executive officer. “Our relationship with Affinity
Global Services will significantly enhance our agent network by allowing
us to partner with mobile network operators in key corridors such as
Latin America, Asia and Africa, and provide convenient, affordable and
reliable money transfer services to consumers around the world.”
Affinity Global Services is the first Mobile Gateway to facilitate
MoneyGram services, and will provide technical connectivity between
MoneyGram and various mobile network operators. The MoneyGram mobile
money transfer service will use Affinity Global’s MADE™ Platform,
enabling MoneyGram to connect to virtually any mobile network operator.
The parties are currently in discussion with a mobile network operator
which is expected to be the first to launch the service to consumers
later this year.
”MoneyGram understands that success in the mobile sector is about more
than just technology,” said Ritchie Skelding, Affinity Global Services
chairman. “To make mobile money transfer services work on a global scale
requires a partner with world-class systems and a willingness to partner
with mobile operators. Success also takes a commitment to deliver
consumer value in a simple and transparent way. There is no
‘one-size-fits-all’ in this rapidly evolving space so MoneyGram’s
entrance into the mobile money sector will help accelerate adoption of
About Affinity Global Services, Inc.
Affinity Global Services is a mobile solutions company based in Dallas,
Texas. We believe in bringing economic freedom and opportunity to
underbanked people around the world.
Established in 2004 and funded by US and international venture
capitalists, Affinity boasts a leadership team of wireless and financial
services veterans. We understand that wireless technology can deliver
financial empowerment to those in need – and that providing such
empowerment benefits everyone. For more information, visit www.affinityglobalservices.com.
MoneyGram International offers more control and more choices for people
separated from friends and family by distance or those with limited bank
relationships to meet their financial needs. A leading global payment
services company, MoneyGram International helps consumers to pay bills
quickly and safely send money around the world in as little as 10
minutes. Its global network is comprised of 180,000 agent locations in
190 countries and territories. MoneyGram’s convenient and reliable
network includes retailers, international post offices and financial
institutions. Now, MoneyGram offers its most loyal customers MoneyGram
Rewards for cash discounts on eligible money transfers from the U.S. –
to register today. To learn more about money transfer or bill payment at
an agent location or online, please visit www.moneygram.com.
Source: MoneyGram International
Lynda Michielutti, 952-591-3846
Global Services LLC
Gabriel Torres, 949-689-6411