10 Years and Going Strong: MoneyGram Renews Agreement with Canada Post
DALLAS, Jul 14, 2011 (BUSINESS WIRE) -- MoneyGram International (NYSE: MGI), a leading global money transfer company, today announced it successfully renewed its agreement with Canada Post, the largest retail network in the country, and added bill payment services to its suite of product offerings. MoneyGram will continue to provide money transfer services at over 6,200 post office and postal outlet locations throughout Canada.
According to Dan O'Malley, MoneyGram executive vice president, Americas and Emerging Markets, extensions and renewals are as important as new signings to the base business. "Retaining and extending existing agent relationships are directly related to the continued success, customer focus and revenue-building of MoneyGram as a whole," said O'Malley. "The renewal of our largest, most well-known and respected agent in Canada is a clear sign that the relationship with MoneyGram brings value to Canada Post's business and customers."
Since 2002, Canada Post has offered core MoneyGram services at its post office and retail locations. The new contract now adds the emergency and next day bill payment service.
"Canada Post has had a great partnership with MoneyGram and we are pleased to extend and expand our relationship," said John Reis, Canada Post Director of Retail Business Development. "Together, we provide fast, cost-effective and easily accessible money transfers for Canadians. We believe the addition of emergency and next day bill payment service will enhance the value proposition at our postal outlets and we will continue to grow financial services for customers."
MoneyGram's growth strategy includes aligning with post offices, providing consumer with convenient access to reliable and affordable money transfer service close to where they live and work. Other post systems that offer MoneyGram service around the world include Jamaica, Kazakhstan, Kenya, Italy, Poland, Ukraine, Moldova and the United Kingdom.
About MoneyGram International
MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and money transfer services worldwide through a global network of more than 233,000 agent locations -- including retailers, international post offices and financial institutions -- in more than 191 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit http://www.moneygram.com or connect with us on Facebook.
SOURCE: MoneyGram International
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