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MoneyGram and NCB to launch money transfer network in Saudi Arabia
Wednesday 07/01/2009 8:33 AM ET - Datamonitor

 

 

US-based MoneyGram International, a money transfer company, and National Commercial Bank have entered into an agreement to offer MoneyGram's international money transfer service at the bank's 1,400 ATM locations in Saudi Arabia.

MoneyGram's money transfers at National Commercial Bank (NCB) will be sent over the bank's Quickpay platform. Initially, only send services will be available.

Anthony Ryan, president and CEO of MoneyGram International, said: "Saudi Arabia is the second largest send market in the world behind the US, and our alliance with a premier financial institution like NCB represents a significant opportunity for MoneyGram's expansion plans in the Middle East."

Alasharif Khalid Alghalib, senior executive vice president and head of the individual banking sector of NCB, said: "Together with MoneyGram, we can now claim to offer our customers simply the best way to send their money to loved ones back home, using the largest money transfer network in Saudi Arabia.

"With our partner, we have removed the inconvenience of standing in line during office hours and are providing expatriate clients a service that is secure and quick; but above all, flexible and tailored to meet their needs."

       
   ICBC), Bank of Communications (BCOM), CITIC Bank, China Industrial Bank, Shengjing Bank (former Shengyang Commercial Bank); Shenzhen Ping An Bank and Anshan Bank.  
     



Main office
1550 Utica Avenue South
Minneapolis, MN 55416
Phone: 952-591-3000
www.moneygram.com

Background
MoneyGram International, Inc., through its subsidiaries, provides payment services. It operates through two segments, Global Funds Transfer and Payment Systems. The Global Funds Transfer segment provides money transfer services, money orders, and walk-in and electronic bill payment services to consumers, such as unbanked, underbanked, and convenience users. This segment also offers its money transfer services on the Internet, as well as through a network of retail agents in North America, Latin America, western Europe, the Middle East, the Indian subcontinent, the Asia Pacific, eastern Europe, and Africa. It sells its money orders under the MoneyGram brand, as well as on a private label basis or co-branded with retail agents. This segment's bill payment suite of services enables convenience payers, just-in-time payers, and delinquent debtors to pay bills through its network to credit card companies, mortgage companies, auto finance companies, telecom companies, satellite companies, property management companies, and third-party bill collectors. The Payment Systems segment primarily provides payment processing services, which include official check outsourcing and sale of money orders, as well as automated clearing house processing services to financial institutions, thrifts, and credit unions. MoneyGram International distributes its products through a network of sales and marketing teams to agent distribution channels, such as general merchandise, grocery, drug and convenience store retailers, check cashing, and bank locations. The company was founded in 1926 and is headquartered in Minneapolis, Minnesota.

 

MoneyGram International and Bank of China Announce Plans to Expand MoneyGram Money Transfer Services in China
Wednesday 04/29/2009 8:00 AM ET - Businesswire

 

 

MoneyGram International (NYSE:MGI), a global money transfer company, and Bank of China, a pillar of China's banking community and Global Fortune 500 Company, announced today plans to begin offering MoneyGram money transfer services at all 200 Bank of China locations in Beijing in anticipation of expanding into the full Bank of China network.

"We are pleased to launch MoneyGram money transfer services to our Bank of China locations in Beijing, bringing value to our customers, widening the array of services that we offer, and also satisfying the demand for international money transfer service within the local and overseas Chinese population," said Mr. Feiqi MEI, Deputy General Manager, of Bank of China, Beijing branches.

MoneyGram International executives Pamela H. Patsley, executive chairman; and Anthony Ryan, president and chief executive officer, met today in Beijing with leaders from Bank of China as well as other leading agents on the mainland to discuss the common goal of bringing needed financial services to the people of China.

"International expansion is a key growth strategy for MoneyGram," said Patsley. "China represents a vast opportunity for MoneyGram to expand its global network and deliver on its commitment to provide safe and reliable money transfer services to people in every corner of the world."

Ryan said, "Our strategic alliance with a financial institution such as Bank of China reflects an important milestone and significant opportunity for MoneyGram's expansion plans in China. Through Bank of China's impressive national network spanning urban cities and rural towns across mainland China, MoneyGram is able to meet the needs of consumers in one of the largest remittance markets in the world by ensuring that our services are accessible and convenient."

The demand for money transfer services is driven by the growing number of Chinese studying, traveling, working and migrating abroad. The alliance between MoneyGram and the Bank of China provides customers in China with more options for safe, convenient and reliable money transfer services. To send or receive money in China, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds in as little as 10 minutes, subject to agent availability and hours of operation. All fees are paid by the sender.

MoneyGram, with nearly 15,000 agent locations in the Asia Pacific region, has been providing services in China since 1994. In China, agents include Industrial & Commercial Bank of China (

About MoneyGram International

MoneyGram International offers more choices and more control for people separated from friends and family by distance or those with limited banking relationships to meet their financial needs. A leading global provider of money transfer services, MoneyGram International helps consumers to safely send money around the world in as little as 10 minutes. Its global network is comprised of 176,000 agent locations in 190 countries and territories. MoneyGram's convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer at an agent location, please visit www.moneygram.com.

SOURCE: MoneyGram International

    MoneyGram International  Rong Li, 8610-6310-0088-826  rong.li@fortunechina.com.cn  Or  Lynda Michielutti, 952-591-3846  lmichielutti@moneygram.com    
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#393  Sticky Note $mgi $5.26 Taurus69 09/18/19 01:55:43 AM
#889   Some serious premarket moves... wow! NewbieViewbie 05/12/21 09:14:42 AM
#888   What's causing premarket dip here this morning? NewbieViewbie 05/11/21 09:24:04 AM
#887   Friday has highest volume since last October. Volume NewbieViewbie 05/10/21 08:53:08 AM
#886   MGI looking good again this morning NewbieViewbie 05/10/21 08:24:45 AM
#885   https://stockcharts.com/freecharts/gallery.html?mgi Nebuchadnezzar 05/09/21 01:12:43 PM
#884   I'll just sell puts if I do until NewbieViewbie 05/08/21 07:39:02 AM
#883   i dont care if mine get called away Nebuchadnezzar 05/07/21 09:07:07 PM
#882   Hope it slows a bit, want my $9 NewbieViewbie 05/07/21 08:53:50 PM
#881   MGI heading back to $10+ Nebuchadnezzar 05/07/21 08:23:01 PM
#880   * * $MGI Video Chart 05-07-2021 * * ClayTrader 05/07/21 05:17:46 PM
#879   someone is loading this up. awesome move Nebuchadnezzar 05/07/21 01:07:51 PM
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#877   I agree NewbieViewbie 05/07/21 11:50:21 AM
#876   MGI trading like there is more to the Nebuchadnezzar 05/07/21 11:46:40 AM
#875   I have 75 covered calls at 9 bucks NewbieViewbie 05/07/21 11:43:37 AM
#874   loaded a ton in 6's and wrote $9 Nebuchadnezzar 05/07/21 11:10:23 AM
#873   MGI ;) Nebuchadnezzar 05/07/21 11:06:48 AM
#872   Very nice move so far today NewbieViewbie 05/07/21 10:23:32 AM
#871   Earnings this morning? NewbieViewbie 05/07/21 02:03:17 AM
#870   Nice little premarket bump NewbieViewbie 05/05/21 09:25:23 AM
#869   What moved MGI today? NewbieViewbie 05/04/21 05:24:28 PM
#868   With the exception of one spike MGI has Snizzle 05/03/21 10:40:43 PM
#867   I been in and out of MGI since Nebuchadnezzar 05/03/21 08:17:41 PM
#866   Are you seriously in that other pos tho? NewbieViewbie 05/03/21 04:07:14 PM
#865   It's been a great option stock for a NewbieViewbie 05/03/21 04:04:36 PM
#864   haha that's funny. i did the same thing Nebuchadnezzar 05/03/21 04:02:46 PM
#863   I've owned it for a while and just NewbieViewbie 05/03/21 03:56:39 PM
#862   earnings next week. will move $1-$1.50 up or down Nebuchadnezzar 04/29/21 04:23:33 PM
#861   What's driving this price? NewbieViewbie 04/29/21 09:02:18 AM
#860   MGI price target $9-$10 Nebuchadnezzar 04/23/21 02:31:35 PM
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#858   MGI-back on the up and up Nebuchadnezzar 04/15/21 06:12:08 PM
#857   MGI-chart Nebuchadnezzar 04/13/21 02:27:45 AM
#856   MoneyGram (MGI) Launches New Service for Business Customers Reeftanker 03/30/21 02:15:26 AM
#855   MGI volume picking up. bottom in Nebuchadnezzar 03/24/21 10:34:47 AM
#854   $mgi $7.0 ^ 0.14 (2.04%) Taurus69 03/21/21 09:22:17 PM
#853   $MGI disclosed their Ripple payments-they can't be sued Nebuchadnezzar 03/03/21 02:33:38 PM
#852   a little ugly, but its time to be Nebuchadnezzar 02/24/21 09:11:57 PM
#851   MGI new bottom in $6.xx how are those Nebuchadnezzar 02/24/21 08:52:48 AM
#850   added 5000 more shares today. thank you for Nebuchadnezzar 02/23/21 01:00:27 PM
#849   it did, now its reload time near $7-$8 Nebuchadnezzar 02/22/21 12:24:19 PM
#848   all my call options on friday at $9-11 Nebuchadnezzar 02/22/21 11:05:20 AM
#847   Mmmm thanks for the big dip Nebuchadnezzar 02/22/21 10:38:29 AM
#846   $mgi $10.9 ^ 0.03 (0.28%) Taurus69 02/21/21 07:51:23 PM
#845   Heard a rumor a Japanese bank may be Paullee 02/17/21 04:57:37 PM
#844   sounds like you missed out to sell at Nebuchadnezzar 02/17/21 12:41:12 PM
#843   $11 hit today :) hows that $2-$3 price Nebuchadnezzar 02/17/21 12:40:25 PM
#842   rumor, Japanese buyer 20 Paullee 02/17/21 11:12:46 AM
#841   MGI go boom Nebuchadnezzar 02/17/21 09:39:40 AM
#840   The option premiums are sexy. Nebuchadnezzar 02/11/21 05:00:40 PM
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