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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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PostSubject
#393  Sticky Note $mgi $5.26 Taurus69 09/18/19 01:55:43 AM
#471   I went for the $4 strike calls, Garden Rose 01/24/20 11:32:05 PM
#470   $mgi $5 with news Taurus69 01/24/20 04:54:52 PM
#469   Go long a couple thousand shares and sell Nebuchadnezzar 01/24/20 04:13:39 PM
#468   CAIRO, Jan. 23, 2020 /PRNewswire/ -- MoneyGram International, Inc. (NASDAQ: MGI) NikeRunner1 01/24/20 09:40:31 AM
#467   The MoneyGram team is thrilled to announce a Royalpaint 01/20/20 09:32:00 PM
#466   MGI Thx Neb, bought my options. Garden Rose 01/16/20 08:26:13 PM
#465   * * $MGI Video Chart 01-16-2020 * * ClayTrader 01/16/20 05:22:27 PM
#464   MGI-look at upside out of money call options Nebuchadnezzar 01/16/20 05:00:39 PM
#463   Up to 4 Dollars. Possible short squeeze. Uptrending Cat dog 01/16/20 10:35:03 AM
#462   4 dollar stock up trending. Good accounting. Cat dog 01/16/20 10:32:04 AM
#461   MGI News Out Evening toby3 01/15/20 09:13:47 PM
#460   Starts the day up, then down it goes. NCAR 01/13/20 03:47:35 PM
#459   THREE RECENT GOOD NEWS REPORTS, And the stock toby3 01/13/20 03:07:02 PM
#458   New to this stock, is there any value cmeny1977 01/09/20 10:00:00 PM
#457   Would like to see ripple add to their Nebuchadnezzar 01/03/20 04:19:04 PM
#456   Value engine up graded MGI from a hold toby3 01/03/20 10:50:40 AM
#455   This Morning Money gram up graded to a toby3 01/03/20 10:47:52 AM
#454   i grabbed some at 2.08 and will add hyborianwar 01/02/20 09:06:18 PM
#453   MGI-bought another 3000 today @ $2.16 Nebuchadnezzar 12/30/19 10:12:31 AM
#452   $mgi $5 with news Taurus69 12/29/19 06:23:15 PM
#451   MGI-been adding at $2.15-$2.35 Nebuchadnezzar 12/26/19 01:18:32 PM
#450   1,95-2.15 is load zone. has this bottomed? hyborianwar 12/26/19 11:37:32 AM
#449   1,95-2.15 is load zone. has this bottomed? hyborianwar 12/26/19 11:37:31 AM
#448   I bet MGI is ready for 2019 to Nebuchadnezzar 12/19/19 02:23:28 PM
#447   Loading here Nebuchadnezzar 12/19/19 01:43:47 PM
#446   Watch Alex Holmes interview today at 9am on NikeRunner1 12/17/19 07:35:08 AM
#445   $mgi $5 with news Taurus69 12/15/19 03:07:11 PM
#444   1.95-2.15 channel maybe good load zone. i doubt hyborianwar 12/12/19 09:36:17 AM
#443   Julia Chatterly conducted a pre recorded interview with NikeRunner1 12/12/19 09:22:35 AM
#442   They couldn't wait another day for that announcement? GreedyAgorist 12/11/19 04:52:52 PM
#441   News: $MGI MoneyGram Announces Renewed Three-Year Agreement With CVS whytestocks 12/11/19 03:30:20 PM
#439   Looks like my patience is paying off. I'll MD3 12/11/19 10:33:52 AM
#438   Ripple is going to need to average down NCAR 12/10/19 02:52:39 PM
#437   MGI has been a good one to play GreedyAgorist 12/05/19 01:40:52 PM
#436   I see some friendly faces on this board. MindlessSelf 12/05/19 12:37:41 PM
#435   $mgi $2.465 Taurus69 12/05/19 12:02:53 PM
#434   WOW!!!! Wooden Indian 12/03/19 10:32:14 AM
#433   Really? Wooden Indian 11/26/19 07:22:43 AM
#432   This is a good spot right here, MGI. GreedyAgorist 11/25/19 01:47:57 PM
#431   How low can she go MD3 11/18/19 08:18:38 PM
#430   $mgi $2.68 Taurus69 11/17/19 03:04:07 AM
#429   MGI kicked butt a couple of months ago. GreedyAgorist 11/15/19 04:18:00 PM
#428   blah blah blah. $2.60s and no insider buys Nebuchadnezzar 11/15/19 04:02:24 PM
#427   News: $MGI MoneyGram and Wing to Launch a whytestocks 11/14/19 01:45:25 PM
#426   This is too close to a third Friday GreedyAgorist 11/13/19 03:30:03 PM
#425   $MGI great article https://news.squeezereport.com/short-squeeze/mone whytestocks 11/13/19 09:10:32 AM
#424   OMG, MGI is going to be sooo HUGE... Wooden Indian 11/12/19 08:34:36 PM
#423   $mgi $3.52 Taurus69 11/10/19 01:15:13 PM
#422   MGI is in the beginning phase using Ripples Royalpaint 11/07/19 11:50:02 AM
#421   $mgi $3.38 Taurus69 11/03/19 05:09:39 PM
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