This Day On The Street
Continue to site
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

MoneyGram Adds Merchantrade To Growing Agent Network

MoneyGram (NASDAQ:MGI), a leading global money transfer company, announced today that it has reached an agreement with Merchantrade, one of the fastest growing remittance companies in Malaysia, to offer international money transfer services at Merchantrade locations throughout the country.

The agreement increases MoneyGram’s presence in Malaysia and makes the company’s money transfer services easier for customers to access.

According to the World Bank, an estimated $7 billion in remittances flowed out of Malaysia in 2011. To meet the growing demands for a reliable money transfer service, MoneyGram has recently experienced growth in the region, with money transfer locations that now cover the eastern and western sides of the country.

“Adding Merchantrade to our network in Malaysia is an important step for us as we provide more access to affordable money transfer services to those who rely on remittances for their daily needs,” said Grant Lines, senior vice president, APAC, Southeast Asia and Middle East, MoneyGram. “The alliance with Merchantrade will also enable MoneyGram to soon launch a trusted online money transfer option in Malaysia, through Merchantrade’s online e-remit service, to give our customers more money transfer choices.”

Commenting on the new alliance, Ramasamy Veeran, managing director of Merchantrade Asia, said, "MoneyGram is the right choice for Merchantrade. Now, we can offer our customers a money transfer service that is affordable and reliable. Working with MoneyGram demonstrates our commitment to giving our valued customers the important services they need to send funds to their loved ones around the world.”

To send or receive money in Malaysia, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds. The funds will be ready to collect in as little as 10 minutes, subject to agent availability, hours of operation and local laws and regulations.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.28 -0.94%
FB $117.85 0.36%
GOOG $696.93 0.66%
TSLA $223.69 -3.70%
YHOO $35.91 -0.28%


Chart of I:DJI
DOW 17,650.20 -100.71 -0.57%
S&P 500 2,050.15 -13.22 -0.64%
NASDAQ 4,724.0390 -39.1850 -0.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs