Money Gram

MoneyGram History

The story of MoneyGram International Inc. is really the story about two businesses, coming together to create one of the world’s largest companies in the money transfer industry. Minneapolis-based Travelers Express Co. Inc. was founded in 1940 and became the world’s largest processor of money orders and a major player in the electronic payments industry. In early incarnations, Travelers Express had ties with bus company Greyhound Corp. and later consumer products company The Dial Corp., maker of Dial soap.

The other company that helped create MoneyGram International was Denver-based MoneyGram Payment Systems Inc., which entered the international money transfer business in 1988. MoneyGram Payment Systems interestingly enough, for one year, was a subsidiary of a company that owned Western Union.

Travelers Express and MoneyGram Payment Systems joined forces in 1998 when Travelers Express’ parent, Viad Corp., purchased MoneyGram Payment Systems. In 2004, Viad spun off the Travelers/MoneyGram group into a new publicly traded company - MoneyGram International Inc.

Commitment to Our Customers and Agents

For our customers, we offer an affordable, reliable and convenient way to send money and pay bills. Any where. Any time. For our agents, MoneyGram is a significant avenue for growth, delivering opportunities to drive incremental revenue while providing a critical service for their loyal customers. For billers and financial institutions, MoneyGram provides a valuable tool to enable efficiencies and improve profitability.

World Headquarters

MoneyGram International
2828 N. Harwood, Floor 15
Dallas, Texas 75201

www.moneygram.com 

MoneyGram is the second-largest money transfer company in the world with business operations in two categories: Global Fund Transfer and Financial Paper Products. MoneyGram is listed on the New York Stock Exchange under the ticker symbol MGI.

Follow us on Facebook at: http://www.facebook.com/moneygram 

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Fast Facts

The company, which was founded in Minneapolis as Travelers Express, started as a small money order operation in 1940 MoneyGram is the second largest money transfer business in the world. The company first passed the billion dollar mark in revenue in 2006 MoneyGram has 293,000 agent locations in 197 countries and territories MoneyGram has more than twice the locations of McDonald’s, Starbucks, Subway and Walmart combined

MoneyGram has as 2,350 employees around the world The company’s contact centers and website supports 23 languages MoneyGram’s money transfer business generated growth in revenue and transaction volume last year and the global agent network increased by 18 percent In 2011, the company made revenues of $1.25 billion; Adjusted EBITDA of $264 million

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Company Owned Retail

Most of MoneyGram’s money transfer services are provided through our worldwide network of third-party agents. However, we also offer services in MoneyGram-owned and operated outlets in key countries. In the U.S., we operate 14 retail locations in New York city and one in Miami. In Western Europe, we offer retail services in approximately 71 owned and operated locations in Belgium, France and Germany

International money transfers is MoneyGram's primary business. The company's money transfer service allows consumers to send and receive money worldwide, through a global network of third-party agents that use our money transfer system. In many locations, consumers can collect funds in local currency, U.S. dollar or euro. In some markets, customers also have the option to send and receive money through alternative channels such as online, mobile, ATMs, kiosks, call center and home delivery, from and into cash, bank accounts, payment cards and mobile wallets.

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Cash

Customers can walk into one of our 300,000 agent locations around the world to send or receive cash. Customers send cash at an agent location and within 10 minutes it is available for pick up by the recipient at a MoneyGram agent anywhere in the world. In some locations an "Overnight" service gives senders the option to delay receive of their transaction for a lower fee.

Cash to Bank Account

MoneyGram offers customers the opportunity, where available, to send funds to their chosen recipient's bank account. With this service receivers can receive money from their loved ones without having to physically go to an agent location. In some countries we offer the option for receivers to redirect their cash pick up into a bank account.

Cash to Card

Customers can send funds directly to a recipient's card in some markets. In some countries we also offer receivers the option to redirect a cash pick up transaction onto a card via a call centre. Cards can provide a safer alternative to carrying cash and as well as being able to withdraw cash at ATMs, cards can be used directly as a payment instrument.

Online

In the U.S., MoneyGram directly offers online transfer services, an easy and convenient way to send funds using a credit card, debit card or bank account to fund the transaction. Online sends are also available for customers of some select agents around the world.

Mobile

Money transfers can also be made from mobile phones in some markets. In Italy, we have partnered with Poste Italiane and in UAE with the National Bank of Abu Dhabi for mobile sends that can reach any of our global agent locations. Forty million SMART phone users in the Philippines are also able to receive funds from a growing list of countries and territories, including the U.S. and Hong Kong. We are currently working with mobile phone operators in regions around the world to offer more services via mobile.

ATM/Kiosk

In certain markets where customers require out of hours service, money transfers via ATMs are an excellent way to meet customer and partner needs. In Saudi Arabia, we partner with National Commercial Bank, where customers can send funds 24 hours a day at any of their 1,400 ATMs.

In retail locations, customers can shorten transaction time by using a kiosk to make a money transfer. For example, 7-Eleven Australia operates dedicated MoneyGram kiosks in their locations, allowing customers to set up their money transfers at a kiosk before paying for their transaction at the cashier.

Home Delivery

Customers can choose to have their money transfer delivered directly to their home address. Home delivery is available to customers of selected agents around the world.

Reference: MoneyGram Website