MoneyGram (MGI), a leading global money transfer company, and Walmart announced today a new three-year agreement for MoneyGram to continue providing MoneyGram branded financial products including money transfers, bill payment and money orders, at all Walmart stores in the U.S. and Puerto Rico.
Under the terms of the agreement, MoneyGram is the preferred provider of money transfers at Walmart, continuing a 13-year relationship.
"This is our fourth money transfer agreement with Walmart since 1999 and our shared commitment to value and customer service continues to be the foundation for our successful relationship," said Pam Patsley, chairman and CEO of MoneyGram. "We are committed to delivering innovative solutions and compelling products for consumers."
The new contract commences on April 1, 2013 and includes MoneyGram committing to investments in technology and ongoing marketing and product innovation.
© Finextra Research 2013