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MoneyGram Global Agent Network Surpasses 300,000

Stocks in this article: MGI

MoneyGram (NYSE:MGI), a leading global money transfer company now has a global network of more than 310,000 agent locations, following a year of significant network and channel growth.

MoneyGram recently reported money transfer fee and other revenue constant currency growth of 13 percent and transaction growth of 14 percent for the fourth quarter and full year 2012. This strong growth over the last several years has been fueled by a growing agent network.

  • During the past 30 months, MoneyGram has added 100,000 agent locations
  • Since 2007, MoneyGram has more than doubled its network
  • In 2012, MoneyGram added more than 43,000 agent locations
  • In 2012, MoneyGram crossed the 20,000 location milestone in Africa
  • In 2012, MoneyGram post office agent relationships grew to nearly 30 globally
  • In 2012, MoneyGram network in the U.S. grew to approximately 50,000 locations

Commenting on MoneyGram’s growth, Pamela H. Patsley, chairman and chief executive officer of MoneyGram, said, “We operate in a $500 billion -- and growing-- industry, and have consistently outpaced the industry growth to capture market share through a well-defined strategy. This is an important milestone, but we are not stopping here. MoneyGram’s momentum is reinforced by our strong foundation and having the right talent in place to ensure MoneyGram is the preferred provider for the services we offer consumers.”

MoneyGram’s success is partly attributed to adding premiere agents to its global network, including two of the world’s top three retailers, and securing key partnerships in the growing alternative channel space. In 2012, MoneyGram renewed its contract with Walmart, launched mobile money transfer service in Qatar, and announced its global agreement with PayPal that will enable consumers to easily access money in their digital wallets in the physical world.

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