NEW YORK (TheStreet) -- TheStreet's Jill Malandrino sat down with Pam Patsley, the CEO of MoneyGram International (MGI), to discuss what the company is working on and why shareholders should pay attention.
Pricing pressure has been a key focus point for MoneyGram investors, especially with Wal-Mart (WMT) deeply discounting a similar service.
"We love growing market share and we love expanding margins," Patsley told Malandrino.
Patsley said her company is focusing on alternative channels. Those include going online, using a mobile application or a kiosk to transfer money. The focus has really been on self-service and creating an easy-to-use system for customers, she said.When asked what separates Moneygram from its competitors, Patsley told Malandrino, "we have a brand message that resonates with the consumer. Convenience is so important." Moneygram focuses on building a network that customers can send and receive money however they prefer, (bank-to-cash, cash-to-cash, bank-to-bank, etc.). When it comes to financing, Patsley said that retiring old senior notes and securing new financing will save Moneygram around $28 million per year in interest. She also said the company wasn't looking for anything big in terms of acquisitions and is focusing on organically growing the company through their alternative channels. But that doesn't mean a dividend resumption isn't in the cards. "It is all about shareholder return and value creation for shareholders," she said. "We're looking at everything." -- Written by Bret Kenwell in New York.
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