MoneyGram International (NYSE:MGI), a leading global money transfer provider, announced today its expansion of multi-currency payout in Romania that provides more choices for customers to instantly select euros, local lei or U.S. dollars.
"Currency payout needs continue to evolve as migration trends for Romanians change due to economic factors at home and around the globe," said John Hempsey, head of MoneyGram International Limited. "The expansion of multi-currency payout options better serves customers sending funds from outside of the European Union."
The introduction of U.S. dollar and local lei currency payout in addition to euro payout in Romania demonstrates MoneyGram's continued success in its strategy to enhance its product offerings and provide consumers around the globe with a superior value.
"Romania is an important growth market and one of MoneyGram's largest countries in terms of transactions received," said Hempsey. "With more than 2 million Romanian immigrants living and working in Spain, Italy, the United States and the United Kingdom, there is a growing demand for new payout options that can help Romanians both better manage their financial needs and minimize currency conversion fees."
Today, MoneyGram offers local or multi-currency payout options across approximately 80 percent of the countries it serves. MoneyGram serves consumers in Romania through MoneyGram agents Romanian Commercial Bank, ProCredit Bank, Libra Bank, Smith & Smith, OTP Bank, Alpha Bank, Unicredit Tiriac Bank, and Speed Transfer.