This Day On The Street
Continue to site
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

Xerox And MoneyGram To Transform Child Support Payments

Xerox (NYSE:XRX) is teaming up with MoneyGram, a leading money transfer and payment services company, to assist people in transmitting child support payments to state agencies and custodial parents. The agreement creates a simple way for parents to pay child support, helping to ensure that children receive the support due to them from both parents.

MoneyGram has more than 39,000 locations nationwide in retail stores. Through the agreement, MoneyGram will transmit child support payments to Xerox’s national portal, ExpertPay. Xerox will deliver the electronic funds to 49 states, the District of Columbia and Puerto Rico, and state child support agencies can then make payments to custodial parents.

“This agreement with MoneyGram is the ‘innovation of the year’ in terms of improving the child support system. We have created convenience for parents and can deliver funds to agencies in a format that supports automatic and quicker processing to recipients,” said Nancy Collins, group president, State Enterprise Solutions, Xerox. “We are committed to working with state agencies to make sure children receive financial support from both parents on a regular and reliable basis.”

Innovative security technology will be in place to help prevent fraudulent transactions. During each transaction, the retail cashier will receive a notification on the screen that will quickly verify that the payer has a child support obligation in the destination state. On the receiving end, child support agencies will have the ability to ensure the transaction is legitimate before delivering the funds to a custodial parent.

“The infrastructure Xerox has in place with nearly every state opens a significant delivery channel that allows MoneyGram to move funds to custodial parents quickly and securely,” said Peter Ohser, MoneyGram’s executive vice president, U.S. and Canada. “Working with Xerox, we can provide tremendous value to people who need to use cash for their child support payments.”

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
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
SYM TRADE IT LAST %CHG

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs