Ace Cash Express extends Moneygram agreement

Source: MoneyGram International

MoneyGram International, Inc, announced today that ACE Cash Express, Inc, has agreed to a multi-year extension of its contract to offer MoneyGram payment services at its locations across the U.S.

ACE's contract, which includes MoneyGram's money transfer, ExpressPayment and money order services, would have expired at the end of 2009.

ACE, which is headquartered in Texas, is the country's largest check cashing company. It first offered MoneyGram's money transfer service in 1989. Today, it is ranked as MoneyGram's second largest money transfer agent, in terms of transaction volume processed at ACE locations.

"We are pleased to continue a long and successful relationship with MoneyGram International. ACE customers know MoneyGram as the affordable, reliable and convenient choice," said Jay B. Shipowitz, president and chief executive officer of ACE. "We have extended a long-term agreement that ensures our customers will receive consistent, quality service throughout ACE's network."

"We have both grown together," said Dan O'Malley, senior vice president and president of the Americas for MoneyGram. "With its expanding number of locations, ACE is an important part of our network in the U.S., helping us deliver the convenience that's so valued by our customers."

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