MoneyGram Significantly Increases Money Transfer Presence in Philippines
MINNEAPOLIS--(BUSINESS WIRE)--Apr. 1, 2009--
MoneyGram International (NYSE: MGI) announced that on April 1 more than
1,200 M. Lhuillier locations will begin offering MoneyGram global money
transfer services throughout the Philippines. With the addition of M.
Lhuillier Financial Services Inc., an established non-bank financial
services company, MoneyGram will now offer customers in the Philippines
the option to receive transactions in U.S. dollars as well as Philippine
pesos, providing more choice and control for consumers.
“The Philippines is a strategic country where we see strong growth
potential,” said Tony Ryan, president and chief executive officer of
MoneyGram. “Remittances are an essential part of the economy in the
Philippines and we believe that our convenient and reliable global money
transfer service will provide more control and choice for Filipinos
working abroad to send money to their families back home,” said Ryan.
The 1,200 new M. Lhuillier locations boosts MoneyGram’s presence in the
Philippines to more than 6,000 locations—making it one of the largest
money transfer networks in the country. MoneyGram expects continued
network growth in the Philippines for the remainder of 2009, including
nearly 900 bank branches that will roll out money transfer services in
“The addition of nearly 2,000 MoneyGram money transfer locations
throughout the Philippines demonstrates our ability to deliver a
valuable and needed service in response to growing consumer demand
throughout the country,” said Ryan. “M. Lhuillier’s extensive locations,
accessible hours and multi-currency payout support MoneyGram’s mission
to help consumers around the world with more convenient choices for safe
and reliable money transfer services.”
To receive money via MoneyGram in the Philippines, the receiver can walk
into a MoneyGram agent location, complete a Receive Form and show a
photo identification to receive funds in as little as 10 minutes. More
than 150 M. Lhuillier locations will offer the service 24 hours a day,
providing additional convenience and peace of mind for MoneyGram
customers particularly in times of emergency.
“With the addition of the M. Lhuillier and additional bank locations, we
look forward to growing our customer base in Asia and providing a
critical link for those in the Philippines to receive much-needed
funds,” said Ryan.
About MoneyGram International, Inc.
MoneyGram International offers more choices, more control for people
separated by distance or 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 176,000 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. – visit www.mymoneygram.com
to register today. To learn more about money transfer or bill payment at
an agent location or online, please visit www.moneygram.com.
About M. Lhuillier Financial Services, Inc.
M. Lhuillier Philippines is a leading financial institution that
primarily provides monetary loans, pawn brokerage, and a wide array of
money remittance services to its customers in the Philippines and other
parts of the world. Founded in the 1930s as a lending institution, the
company has also grown to invest in insurance, courier delivery,
electronic loading, processed food products, and a host of other allied
services. M. Lhuillier is currently located in more than a thousand
locations across the country, with more than a hundred branches offering
24-hour services even during Sundays and holidays. For more information,
visit the M. Lhuillier corporate website at www.mlhuillierinc.com.
Source: MoneyGram International
Lynda Michielutti, 952-591-3846