MoneyGram expands Indonesian agent network

Source: MoneyGram

MoneyGram International (NYSE:MGI), a leading global money transfer company, announced today an expansion of its money transfer services in Indonesia as Mutiara Bank added 57 locations, primarily on Java Island.

"Mutiara Bank provides conveniently located branches especially across Java Island, including 28 new locations in Jakarta. These locations will provide even more convenient access to our affordable and reliable money transfer services in the most populated region of the world."

"We're pleased to have Mutiara Bank on board as our newest agent serving Indonesia," said John Hempsey, MoneyGram's executive vice president of Europe, the Middle East, Africa and Asia Pacific. "Today, MoneyGram has more than 2,500 agent locations across Indonesia including Sumatra, Borneo and Java Islands.

In 2009, an estimated $8.3 billion in remittances flowed through Indonesia, according to the World Bank, with $6.6 billion sent into the country primarily from the United States and Canada.

Nick Cunnew, MoneyGram's senior regional director for Asia Pacific and South Asia, said, "Mutiara Bank provides conveniently located branches especially across Java Island, including 28 new locations in Jakarta. These locations will provide even more convenient access to our affordable and reliable money transfer services in the most populated region of the world."

To send or receive money in Indonesia, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds. The funds will be ready to collect in as little as 10 minutes, subject to agent availability and hours of operation. In addition to Mutiara Bank, MoneyGram's agents in Indonesia include CIMB Niaga, Bank Mega, Adisena and Pacto Ltd.

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