19 October 2017
visit www.response.ncr.com

MoneyGram inks deal with Bank of China

19 January 2010  |  3267 views  |  0 Source: MoneyGram

MoneyGram International (NYSE: MGI), a leading global money transfer company, and Bank of China, a pillar of China's banking community and Global Fortune 500 company, announced today an agreement that will bring MoneyGram money transfer services to Bank of China's 10,000 domestic branches in the mainland in the coming years.

The agreement, which more than triples MoneyGram's presence in this growing remittance market, follows the successful completion of a six-month pilot that ran in 240 Bank of China branch locations in Beijing.

MoneyGram will begin rolling out its money transfer services in Bank of China branches in key provinces across the southern and eastern coast in China beginning in January and will continue expanding throughout the Bank's extensive network in the country in 2010 and 2011. In addition, this new strategic alliance with Bank of China will create further opportunities for MoneyGram's money transfer services in several other countries in the Asia Pacific region.

"This partnership brings significant benefits to MoneyGram, the Bank of China and to the billions of people in this region," said Pamela H. Patsley, MoneyGram chairman and CEO. "With more than $25 billion in annual remittances, China is a critical focus for MoneyGram's market expansion in 2010," said Patsley. "We are delighted to further align ourselves with Bank of China's globally recognized brand and to bring more value, more options and more convenience to the increasing number of money transfer consumers across this important remittance market."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15730 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8902 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7988 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7101 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6241 views comments | 6 tweets | 3 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job