MoneyGram International Strengthens International Post Office Network via Kazakhstan Post and Moldova Post

Jul 21. BUSINESS WIRE

MoneyGram International Strengthens International Post Office Network via Kazakhstan Post and Moldova PostMoneyGram adds 800 locations in Kazakhstan; becomes largest money transfer provider in Moldova with more than 1,945 locations.

MoneyGram International (MGI 2.32, -0.13, -5.31%), a leading global money transfer services company, announces it signed a two national post offices to its growing international agent network. Kazakhstan Post and Moldova Post are now both providing MoneyGram’s money transfer services in all post offices throughout each respective country.

KazPost, which was signed through MoneyGram’s super agent Platina Bank in Russia, will add 800 locations to MoneyGram’s network. Moldova Post plans to bring MoneyGram’s money transfer services to all Moldova Post locations. Through this agent partnership, MoneyGram becomes the largest money transfer provider in the country with more than 1,945 locations.

“According to the World Bank, Kazakhstan and Moldova together received approximately $1.6 billion dollars in remittances in 2009,” said Nigel L. Lee, executive vice president of Europe, Middle East, Africa and Asia Pacific for MoneyGram. “Obviously, thousands of people in Kazakhstan and Moldova rely on money transfers. We know that in partnering with the post offices in Kazakhstan and Moldova we are meeting a financial need for people across those countries.”

KazPost and the Moldova Post are the latest in a growing number of national post offices that have joined MoneyGram’s agent network. As part of its growth strategy, MoneyGram strategically aligns itself with post offices, providing consumers with convenient access to reliable and affordable money transfer service close to where they live and work. Other post office systems in MoneyGram’s network include Canada, Cyprus, Jamaica, Kenya, Italy, Poland, Ukraine, Moldova and the United Kingdom.

MoneyGram’s goal is to continue to build out its network and introduce its brand to consumers, providing them with a choice for reliable money transfer services. With more than 200,000 valued agent locations in more than 190 countries and territories, MoneyGram’s is providing more choices, added value and increased convenience to consumers all over the world.

About MoneyGram International

MoneyGram International offers more choices to people separated from family and friends 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 with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 200,000 agent locations in more than 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions.

http://www.marketwatch.com/story/moneygram-international-strengthens-international-post-office-network-via-kazakhstan-post-and-moldova-post-2010-07-21?reflink=MW_news_stmp

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