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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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#122   Not the only 1, ive been loading the Short-Hunter 11/19/18 01:13:08 PM
#121   Yes you may step up to the self buypumps 11/15/18 09:02:07 PM
#120   Nice day.......may I have more ??? budgetthis 11/15/18 02:55:06 PM
#119   Since I Am Now The Only Shareholder Here. buypumps 11/14/18 09:00:53 PM
#118   I think I now own half of the float! buypumps 11/14/18 03:54:40 PM
#117   Load Bottom Is In Buyout In Less Than buypumps 11/14/18 12:49:54 PM
#116   Added at 2.13 Santa is coming! buypumps 11/14/18 10:58:10 AM
#115   Moving up nicely! MGI crudeoil24 11/14/18 09:38:40 AM
#114   3.60 - 3.70 Easy; Just be patient!!!! BOOM!!! $$$$ ALL-IN888 11/14/18 09:37:26 AM
#113   Exactly! crudeoil24 11/13/18 04:39:41 PM
#112   Big question is who and how much will buypumps 11/13/18 03:28:08 PM
#111   Yes a little patience huge reward! Santa is buypumps 11/13/18 03:20:17 PM
#110   Stiil holding was tempted to sell for beer money! buypumps 11/13/18 03:19:02 PM
#109   Dont bring that sub penny garage here geezus! ALL-IN888 11/13/18 03:02:46 PM
#108   Scared money dont make money!!! :-D ALL-IN888 11/13/18 02:30:28 PM
#107   No money here, should chase tiger3 11/13/18 01:48:29 PM
#106   Above 2.35 now!! Its a GO Baby Go!!! ALL-IN888 11/13/18 12:56:36 PM
#105   No selling pressure @ HOD Buckle up Girl ALL-IN888 11/13/18 12:46:12 PM
#104   Fully Loaded 80K from 2.13 Looking good Baybeeee! ALL-IN888 11/13/18 12:38:55 PM
#103   Massive Squeeze Back to 4.00 4.50 then 5.00 ALL-IN888 11/13/18 12:36:02 PM
#102   Panic Buying begins above 2.35 - 2.40 ALL-IN888 11/13/18 12:29:07 PM
#101   I was planning a re-entry on PXS at ALL-IN888 11/13/18 12:16:52 PM
#100   Picked up a few @ 2.24 crudeoil24 11/13/18 12:11:50 PM
#99   Alibaba $25 Billion record Breaking one Day Sales ALL-IN888 11/13/18 12:06:38 PM
#98   Now that is a big deal > Seen crudeoil24 11/13/18 12:03:15 PM
#97   Jack Ma is the Chairman & CEO of ALL-IN888 11/13/18 12:01:08 PM
#96   https://charts.stocktwits.com/production/original_144934269.png ALL-IN888 11/13/18 11:59:07 AM
#95   It what Tanked from 5.00 to 2.05 on ALL-IN888 11/13/18 11:57:47 AM
#94   Moneygram will get Busy during the Holidays, Ther'yll ALL-IN888 11/13/18 11:56:02 AM
#93   Just checking it out > Why should it crudeoil24 11/13/18 11:55:27 AM
#92   WOW! See ya @ 15.0OOM $$$$$ GLTY Bud ALL-IN888 11/13/18 11:52:44 AM
#91   > MoneyGram and/or its executives may have issued crudeoil24 11/13/18 11:48:35 AM
#90   The U.S. Federal Trade Commission on Thursday said crudeoil24 11/13/18 11:46:36 AM
#89   ALL IN @ 2.13 See y'all back @ ALL-IN888 11/13/18 11:12:50 AM
#88   Reloaded 3500 at 2.06 Serious Upside Coming buypumps 11/12/18 11:56:53 AM
#87   Stop loss out at 2.23 Re-enter 2.08 area buypumps 11/12/18 11:42:29 AM
#86   Loaded 4000 shares at 2.38 end of day.Extremely buypumps 11/09/18 08:40:45 PM
#85   If you are not watching whats happening in TATinactin 04/20/18 10:45:20 PM
#84   I'm going to begin to watch this company Imperial Whazoo 01/18/18 08:59:38 AM
#83   I took a bunch of Calls in that mikeski74 01/13/18 01:22:11 PM
#82   All the extra cash $$$MGIIIIIII REDZONE 01/12/18 11:14:49 AM
#81   I JUST MADE A ALL IN MOVE HERE REDZONE 01/12/18 11:14:26 AM
#80   BOTTOM IS IN, BIG DAY TODAY IMO;-) INTHEKNOW1 01/06/16 09:10:06 AM
#79   ~ $MGI ~ Earnings posted, pending or coming Penny Roger$ 02/03/12 05:17:53 AM
#78   MGI now looks pretty cheap. i would be T-Master 11/20/11 02:00:09 PM
#77   Why do I feel like my butt is bdaddyay 11/16/11 09:13:57 AM
#76   MGI LOD 2.56 $King 11/14/11 10:05:25 AM
#75   I sold all 15000 shares back in june T-Master 09/15/11 04:36:16 PM
#74   MGI has been very lightly traded. FUNMAN 09/15/11 04:30:00 PM
#73   MGI just got upgraded from nuetral to overweight T-Master 09/01/11 04:23:36 PM
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