MoneyGram Renews Agreement with India Post


MoneyGram Renews Agreement with India Post

NEW DELHI--(BUSINESS WIRE)-- MoneyGram (NYS: MGI) , a leading global money transfer company, today announced it successfully renewed its agreement with India Post, the largest postal network in the world. MoneyGram launched the service with India Post in September 2011 at 100 India Post locations. Since then, that number has grown to include 2,500 India Post locations offering MoneyGram's money transfer service.

According to Pamela H. Patsley, MoneyGram chairman and chief executive officer, extensions and renewals are as important as new signings to the base business. "Retaining and extending existing agent relationships are directly related to our continued success, customer focus and revenue-building initiatives of MoneyGram," said Patsley. "We are also looking forward to further expanding and increasing India Post locations in the coming years to offer convenience to our customers, and offering the added trust associated with India Post and MoneyGram."

MoneyGram's growth strategy includes aligning with post offices, among other types of agents, providing consumers with convenient access to reliable and affordable money transfer service close to where they live and work. Currently, MoneyGram has nearly 30 postal relationships globally in countries such as the United Kingdom, Canada and Italy with plans to expand further in the coming years.

About MoneyGram

MoneyGram, 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 Canada and money transfer services worldwide through a global network of more than 310,000 agent locations - including retailers, international post offices and financial institutions - in 197 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit or connect with us on Facebook.

Sophia Stoller / Mike Gutierrez, 214-303-9923

KEYWORDS: United States Asia Pacific North America Texas India


The article MoneyGram Renews Agreement with India Post originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.