Customers have more choices for quick and secure money transfer services
DALLAS, Texas September 16, 2014 (GLOBE NEWSWIRE) -- MoneyGram (NASDAQ: MGI), a leading global money transfer and payment services company, is expanding its network through Chedraui supermarkets, one of Mexico's largest supermarket retail chains. MoneyGram's fast and reliable transfer services are now available inside more than 200 of the company's stores.
While MoneyGram already has 13% of the U.S.-to-Mexico market share, the expansion will give the company a larger footprint in this key remittance market as well as offer customers in Mexico another convenient choice when receiving money.
"We're pleased to work with Chedraui a large, well-known grocer with a devoted customer base, to make our innovative services more accessible in Mexico," says Juan Agualimpia, MoneyGram's executive vice president and chief marketing officer. "Whether it is for an urgent cash need, a big moment or life's essentials, customers can now go to their preferred grocery store to pick up their funds quickly."
Founded in 1927 in Xalapa, Veracruz, Chedraui sells groceries, apparel and non-perishable items and is a sub-agent of CI Banco – "Cartera Dinamica."
About MoneyGram International, Inc.
MoneyGram, a leading money transfer company, provides essential services to consumers who are not fully served by traditional financial institutions. MoneyGram offers worldwide money transfer services in more than 200 countries and territories through a global network of 345,000 agent locations, including retailers, international post offices and banks. MoneyGram also offers bill payment services, issues money orders and processes official checks in select markets.