MoneyGram and UK Post Launch New Services as they Celebrate 20-Year Business Relationship

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The companies have conducted 20 million money transfer transactions together

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Mar 01, 2016, 04:00 ET

LONDON, March 1, 2016 /PRNewswire/ -- MoneyGram (NASDAQ: MGI) and Post Office Limited celebrated a milestone in their successful long-standing business alliance by marking their 20-year relationship and their 20-millionth money transfer transaction today at a ceremony at London's British Museum. Pam Patsley, MoneyGram's executive chairman, joined Paula Vennells, chief executive officer for the Post Office, to host the day's events.

As part of the celebration, MoneyGram and the Post Office also introduced a new "MoneyGram Plus" card program to enhance the customer experience, saving time and making transactions even more convenient. "MoneyGram Plus" allows both the sender and receiver information to be stored in the MoneyGram system, thereby simplifying the process for repeat transactions.

"This is a significant milestone and a very proud moment for all of us at MoneyGram. The 20-year business relationship we are celebrating today is a testament to the strength of a shared commitment MoneyGram and the Post Office have to each other and most importantly to our customers," said Patsley. "We are excited to continue working closely with the Post Office to provide customers with simple and convenient access to financial services they depend on and trust."

The Post Office, which serves over 17 million people a week, has been a MoneyGram agent since 1996, providing MoneyGram money transfer services in more than 11,500 branch locations across the UK. It is MoneyGram's largest agent network in Western Europe.

"Through our successful 20-year relationship with MoneyGram, we have made sending or receiving money around the world easier and, with the introduction of new services, this will get even easier," said Vennells, chief executive of Post Office. "With our 11,500 branches, Post Office is the largest UK retail network with extensive operating hours and over 3,000 branches open seven days a week making it convenient for MoneyGram customers to access a wide range of services at a time that suits them. We are delighted to be part of the new service launch on the same day as we celebrate our 20-millionth transaction together."

According to the World Bank, the UK is home to nearly 8 million immigrants. The biggest diaspora groups moved to the country from India, Poland, Pakistan and the Republic of Ireland. The World Bank data reveals that in 2014, an estimated $2.5 billion USD was sent from the UK and $1.8 billion USD flowed into the country.

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About MoneyGram International, Inc.
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect customers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.

About Post Office
The Post Office (Post Office Limited) has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of communities in Northern Ireland, Scotland, Wales and England. The Post Office has made a commitment to maintaining its network of branches at its current size and reach. It provides around 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.

The Post Office serves over 17 million customers a week and a third of small businesses. Some 99.7% of the total population live within three miles of a post office and over 97% live with one mile of a post office. For many rural communities, the post office is the only retail outlet. Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information, visit www.postoffice.co.uk.

Media Contact:
Michelle Buckalew
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214-979-1418

SOURCE MoneyGram