MoneyGram launches online cash transfer service

MoneyGram launches online cash transfer service

MoneyGram Payment Systems has launched e-Money Transfer, a person-to-person (P2P) payments service for consumers to send money transfers from a home PC via the Internet.

Users initiate transfers from the MoneyGram site. The funds are debited from customers' bank accounts or paid for with credit or debit cards. Recipients can pick up the cash on the same day at any of MoneyGram's agent locations world-wide.

The online system includes MoneyGram's ExpressPayment urgent bill payment service, which can be used to pay car loan, mortgages or credit card bills. Bills can be paid online or via a MoneyGram agent.

Phil Milne, CEO of MoneyGram's parent company Travelers Express, says: "We expect Internet service will be very popular with many of our busy customers who will now be able to send money around the world at any hour of the day from the convenience of their personal computers."

MoneyGram e-Money Transfer is also available through the Yahoo! PayDirect P2P payments service.

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