MoneyGram Extends Contract with United Kingdom Post Office

[TrueBlueTerrier]

http://www.marketwatch.com/story/moneyg ... _news_stmp" onclick="window.open(this.href);return false;

MINNEAPOLIS, Aug 11, 2010 (BUSINESS WIRE) -- MoneyGram International a leading global money transfer provider, today announced that it has signed a multi-year contract extension with the United Kingdom's Post Office. The Post Office, which has been a MoneyGram agent since 1997, offers MoneyGram money transfer services in every one of its 12,000 branches throughout the UK. It has the largest retail network in Western Europe, and over 93 percent of the UK population lives within one mile of a Post Office.

"The United Kingdom is a melting pot of people from around the world and many have a need to send money to family in their home countries," said Nigel L. Lee, executive vice president of Europe, Middle East, Africa and Asia Pacific for MoneyGram. "Post Offices are trusted, community institutions that are convenient to home and work. Our partnership with the Post Office has been a mutually successful one, and we are pleased to be able to continue to provide money transfer services through them."

The partnership with the United Kingdom's Post Office is MoneyGram's longest-standing post office agent relationship. As part of its growth strategy, MoneyGram strategically aligns itself with post offices, providing consumers with convenient access to reliable and affordable money transfer services close to where they live and work. Other post office systems in MoneyGram's network include Canada, Cape Verde, Cyprus, Guernsey, Isle of Man, Italy, Jamaica, Jersey, Kazakhstan, Kenya, Moldova, Poland, and Ukraine.

According to the World Bank, over $4.6 billion was sent from the UK in 2009. Countries which receive from the UK are the Caribbean, Africa, the Indian Subcontinent and Eastern Europe in particular.

In total, MoneyGram has over 13,000 locations throughout the UK. Additional agent partners include Cheque Exchange, Going Places, Money Transfer International and Thomas Cook.

About MoneyGram International MoneyGram International offers more choices to people separated from family and friends by distance or those with limited bank relationships to meet their financial needs. A leading global payment services company, MoneyGram International helps consumers to pay bills quickly and safely send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of over 200,000 agent locations in more than 190 countries and territories. MoneyGram's convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer or bill payment at an agent location or online, please visit http://www.moneygram.com" onclick="window.open(this.href);return false; or find us on Facebook.

SOURCE: MoneyGram International