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TheStreet Open House

MoneyGram And 7-Eleven Extend Self-Service Kiosk Agreement In Australia

Stocks in this article: MGI

MoneyGram International (NASDAQ: MGI), a leading global money transfer and payment services company, has extended its agreement with 7-Eleven in Australia to allow customers to send and receive funds anytime, day or night, at self-service kiosks located in 7-Eleven stores. MoneyGram is the only funds transfer provider in Australia to offer money transfer services through a kiosk.

“This agreement demonstrates MoneyGram’s commitment to providing customers with innovative and convenient options to quickly send and receive funds at any time,” said Grant Lines, MoneyGram’s executive vice president of Asia Pacific, South Asia and Middle East. “7-Eleven’s relationship with Cullinan Consulting Group, which provides the kiosks and retailer assistance technology, has enabled us to successfully offer these easy-to-use, technologically advanced services at 7-Eleven stores since 2010, and we look forward to continuing our collaboration.”

The kiosks provide convenient, easy-to-use money transfer services 24 hours a day, at more than 530 7-Eleven stores in Australia. More than 60% of transactions made at these kiosks are completed after normal business hours.

“Introducing MoneyGram has provided our customers with another reason to visit 7-Eleven. Thousands of new and repeat customers use this service every year, enhancing our convenient, one-stop shopping for Australians,” said Warren Wilmot, CEO of 7-Eleven Stores Pty Ltd. “We’re looking forward to continuing our work with MoneyGram and the Cullinan Group to offer this convenient service to our customers for years to come.”

According to the World Bank, the Australia remittance market is approximately $7.3 billion as of April 2014. Money transfer transactions sent from Australia primarily go to India, the Philippines, Fiji, Zimbabwe, Pakistan, Bangladesh and South Africa.

About MoneyGram International

MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 339,000 agent locations – including retailers, international post offices and financial institutions – in more than 200 countries and territories. MoneyGram also offers bill payment services in the U.S. and Canada. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.

About 7-Eleven Stores Pty Ltd

7-Eleven Stores Pty Ltd, Australia’s first choice in convenience, is a private company owned by the Withers/Barlow family. The company has a license to operate and franchise 7-Eleven stores in Australia from the US based 7-Eleven Inc.

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