MoneyGram International Announces Agreement with Samsara to Grow Money Transfer Services in Nepal

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Press Release

July 28, 2009 at 12:00 AM EDT

MoneyGram International Announces Agreement with Samsara to Grow Money Transfer Services in Nepal

MoneyGram International Announces Agreement with Samsara to Grow Money Transfer Services in Nepal

MINNEAPOLIS--(BUSINESS WIRE)--Jul. 28, 2009-- MoneyGram International (NYSE:MGI), a leading global money transfer provider, and Samsara Private Limited, a leading remittance agency in Nepal, announced today an alliance to add MoneyGram money transfer services to Samsara’s 200 partner locations in Nepal. Samsara’s network is comprised mostly of bank locations throughout Nepal’s cities and rural areas.

“Samsara is a trusted brand in remittance services in Nepal and we’re pleased to combine its expertise with MoneyGram’s global network,” said Harsh Lambah, MoneyGram’s regional director for South Asia. “Our expansion with Samsara instantly adds locations with banks and financial institutions and introduces MoneyGram services to rural communities such as Bardiya, Bhojpur, Dolpa, Jajarot and Salayan.”

The World Bank estimates that approximately $2 billion is remitted annually to Nepal especially from countries like Saudi Arabia and Thailand. Last month, MoneyGram expanded its money transfer services in Saudi Arabia with the addition of National Commercial Bank and its 1,400 ATM locations. CIMB Thai Bank announced on July 15 its nearly 150 locations in Thailand would soon offer MoneyGram services.

Mr. Tulsi Gyawali, managing director of Samsara, said, “Our mission includes providing remittance services at the doorstep of our customers in Nepal. We understand how important it is to be close to the customer and MoneyGram’s global network greatly enhances the services we provide as funds can be sent from any of MoneyGram’s global agent locations and received at a Samsara branch in as little as 10 minutes.”

MoneyGram’s Lambah added, “Samsara is now one of our largest agents in Nepal and provides our safe, reliable money transfer services to more people in more communities. We’re adding their network in phases and expect all branches will be activated by the end of the year.”

About MoneyGram International

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 provider of money transfer services, MoneyGram International helps consumers to safely send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 180,000 agent locations in more than 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer at an agent location, please visit www.moneygram.com.

About Samsara Private Limited

Samsara Private Limited is a private remittance company founded in Nepal in June 2006 and operating in Nepal and UK under the license from Nepal Rastra Bank and certified by Registrar of Companies, HM Customs and Excise and the Inland Revenue Department of HM Government of Great Britain. Samsara at present has been rendering its services from more than 350 locations covering almost all the 75 districts of Nepal. With its widespread locations, Samsara is able to provide its customers with fast and convenient money transfer services in Nepal.

Source: MoneyGram International

MoneyGram International
Jody Hinkle, 952-591-3839
jhinkle@moneygram.com