This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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 To Connect To The HomeSend International Money Transfer Hub

Stocks in this article: ESV MGI

MoneyGram, (NASDAQ:MGI) a leading global money transfer and payment services company, has signed a global agreement with BICS to connect to HomeSend. HomeSend, a strategic business partnership between BICS and eServGlobal (LSE:ESG.L & ASX:ESV.AX), is a global technology hub service that enables person-to-person fund transfers.

Through the technology of the HomeSend hub, MoneyGram customers in more than 200 countries will be able remit funds to mobile accounts of HomeSend hub members across the globe. MoneyGram has 336,000 agent locations worldwide and also offers money transfer services through kiosks, along with online, mobile, and other channels.

"We’re excited about the opportunity to expand our reach to mobile money accounts across the world,” says Alex Hoffmann, executive vice president of Global Product and Emerging Channels at MoneyGram. “This agreement accelerates the expansion of our innovative and convenient self-service money transfer channels.”

The agreement will enable MoneyGram customers and agents to further connect to HomeSend’s substantial network, which includes some of the largest tier one mobile operator groups.

“We are very happy to conclude this agreement with MoneyGram, welcoming another global player to the HomeSend remittance hub,” said Daniel Kurgan, CEO of BICS. “The combination of the MoneyGram footprint with our existing remittance deployments will undoubtedly benefit all our hub members while enabling their own customers to receive funds from a wider sending basis.”

“This agreement with MoneyGram validates the power of the unique receiving network HomeSend has established,” said Paolo Montessori, CEO and Managing Director, eServGlobal. “HomeSend is opening access to a previously inaccessible receiving market by connecting to users in even the most remote areas where mobile access is the most convenient way to deliver remittances directly to a mobile wallet even when originating from traditional money transfer channels.”

Today HomeSend has live deployments in more than 50 countries and commercial contracts with mobile network operators (MNOs) and money transfer operators (MTOs).

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

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