This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

MoneyGram And PayPal Agreement Brings Together Online And Physical Worlds

Stocks in this article: MGI

MoneyGram (NYSE: MGI), a leading global money transfer company, today announced a new global agreement with PayPal that will enable consumers to easily access money in their digital wallets in the physical world. PayPal’s 117 million active account holders will now have the option to put cash in and take funds out of their PayPal accounts at MoneyGram locations.

This agreement brings together the world’s leading e-commerce payment company with the world’s second-largest global money transfer company to give consumers a fast, convenient and secure way to easily get funds out of their PayPal account and put cash in via MoneyGram locations. MoneyGram’s network currently includes more than 284,000 locations in 196 countries.

The new service options created through this agreement represent the first global solution for consumers who do not have or use a bank account or credit card to fund and maintain a PayPal account, giving them access to e-commerce. In addition, for the first time, PayPal customers will have a global solution for putting cash into a PayPal account, and a global option to fund, withdraw, and send cash from a PayPal account. These services initially will be piloted in the United States in early 2013, followed by a phased roll-out in the United States and beyond.

“This agreement is a significant milestone for MoneyGram. It represents a new level of innovation and enhances our growth into new areas of the payments industry,” said Pamela H. Patsley, MoneyGram chairman and CEO. “We believe this agreement furthers our goal of making it easy for people to send and receive money in the ways they want, wherever they are in the world, and significantly increases the possibility of e-commerce to MoneyGram consumers.”

“With their global reach and world-class money transmitting capabilities, MoneyGram is the perfect company for us to innovate with,” said Mark Lavelle, Senior Vice President of Strategy and Business Development at PayPal. “Through this new initiative, more consumers will be able to take advantage of PayPal’s digital wallet, and shop at places like eBay or many of the millions of merchants that accept PayPal.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs